JP Morgan Chase CEO Jamie Dimon ripped into the U.S. government Friday, saying that poor governance almost made him embarrassed to be a citizen.
"It's almost an embarrassment being an American citizen traveling around the world and listening to this stupid shit we have to deal with in this country," Dimon said on an earnings call Friday morning, warning that the U.S. has become "one of the most bureaucratic, confusing, litigious societies on the planet."
Dimon voiced frustration even though his bank's earnings, $26.4 billion, beat expectations. Dimon, though, is a prominent voice for business interests and has criticized the government and claimed that economic growth could be much stronger without harmful regulation and tax policies.
Business, he said, "is powerful and strong."
"What I'm saying is it will be much stronger growth had we made intelligent decisions and were there not gridlock," he said.
The U.S. is driving business overseas with its system of corporate taxation, the banker said. Compared to countries like France, Argentina, Israel, and Ireland, it is failing to build infrastructure.
"We are unable to build bridges. We're unable to build airports," Dimon said.