JPM?s Dimon Says Greek Default Won?t Impact on US Banks Much

[Stocks-to-Watch]

JPMorgan Chase (JPM) CEO Jamie Dimon is not afraid to speak his mind, and he made a bold prediction today on CNBC: a Greek default will basically have no impact whatsoever on American banks.

Dimon and other chief executives have tried to assuage investors’ fears that problems in Europe will have a cascading effect, pulling U.S. banks down. Dimon expects the contonuent to “muddle through” its sovereign debt problems, although difficulties in Italy and Spain are more serious.

The chance of a catastrophic outcome in Europe? “Teeny,” he said.



Original Article Source by Barrons.com