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[MARKETREALIST.COM](https://marketrealist.com/) / [ECONOMY & WORK](https://marketrealist.com/economy-work/) # JPMorgan CEO warns banks doing 'dumb things' could trigger a financial crisis like 2008 He believes that the situation is similar to what the country witnessed before the 2008 crash. BY [NILAVRO GHOSH](https://marketrealist.com/writer/nilavroghosh/) PUBLISHED FEB 25, 2026  Representative image of a JPMorgan Chase building. (Cover Image Source: Getty Images \| Photo by Michael M. Santiago) On paper, the US economy is doing quite well, with asset values appreciating to record highs. But all of that might be for naught as JPMorgan Chase CEO Jamie Dimon believes the country could be heading towards a [2008-like situation](https://marketrealist.com/what-does-peter-schiff-think-about-rising-gold-prices-and-the-next-economic-crisis/) all over again. Dimon expressed anxiety over the direction the market was headed, and said that he did not have much confidence in high-value assets either. If anything, the situation is mirroring the market in the years leading up to the 2008 crash.  CEO of JPMorgan Chase, Jamie Dimon. (Image Source: Getty Images \| Photo by Noam Galai) “There will be a cycle one day. I don’t know what confluence of events will cause that cycle. My anxiety is high over it. I’m not assuaged by the fact that asset prices are high. In fact, I think that adds to the risk,” Dimon said as per a [report](https://edition.cnn.com/2026/02/24/economy/jamie-dimon-warning) in CNN, before adding, “Unfortunately, we did see this in 2005, 2006, and 2007, almost the same thing. The rising tide lifts all boats. Everyone was making a lot of money. People were leveraging to the hilt. The sky was the limit.”  JPMorgan Chase & Co. Logo (Image Source: Getty Images \| Photo by Eduardo Munoz Alvarez \| VIEWpress) Dimon was also not pleased with some banks in the country doing “dumb things” like taking on risky loans. He remained adamant that his bank remained cautious in its approach and abided by the rules. “And I think today, the rising tide is lifting all boats. My own view is people getting a little comfortable that this is real, these high asset prices and high volumes, and we won’t have any kind of problem, whatsoever,” he said. “I don’t know how long it’s going to be great for everybody. I see a couple of people doing some dumb things,” Dimon added. It is not just the market and the banks that the JPMorgan Chase CEO is concerned about. He also expressed similar feelings about the impact of [artificial intelligence](https://marketrealist.com/morgan-stanley-says-economy-is-growing-because-of-ai-investments-rather-than-revenue/) on the country, especially in the software sector. Dimon believes that disruptions in the software industry were typical of past events.  JPMorgan Chase CEO Jamie Dimon speaks at an event. (Image Source: Getty Images \| Photo by Kevin Dietsch) “There’s always a surprise in a credit cycle. And this time around, it might be software, because of AI….There are moving tectonic plates underneath it, which cause the industry to be challenged,” he explained. Dimon isn’t against the rapid [development of AI](https://marketrealist.com/what-did-jp-morgan-chase-ceo-jamie-dimon-said-about-ai-replacing-jobs/), but he still urged people to exercise caution with the technology. In fact, he believes AI won't reduce jobs drastically but will instead make life easier for mankind, as he previously said, "Look, I don't think AI is going to dramatically reduce jobs like unbelievably next year. And for the most part, AI is going to do great stuff for mankind, like tractors did, like fertilizer did, as vaccines did — it'll save lives."  Los Angeles Times Guild members rally outside City Hall against ‘significant’ imminent layoffs at the Los Angeles Times newspaper (Image source: Getty Images \| Photo by Mario Tama) That said, just like cars, airplanes, and pharmaceuticals, Dimon believes that AI needs to be properly regulated. He further claimed that if the government figures out a way to regulate AI, then it will eliminate some jobs, but people will still have other professions to fall back on. **More on Market Realist** ['The Big Short' investor who predicted 2008 crisis reveals how Venezuela raid can shape markets](https://marketrealist.com/what-is-michael-burrys-views-on-the-u-s-raid-on-venezuela/) [Investor who predicted 2008 financial crisis comes up with another prediction — this time against AI](https://marketrealist.com/why-is-michael-burry-betting-against-ai-nvidia-and-plantir/) [Expert who predicted the dotcom crash says Americans could face a much bigger crisis soon](https://marketrealist.com/is-there-an-ai-bubble-and-is-it-going-to-burst/) MORE ON MARKET REALIST [](https://marketrealist.com/costco-membership-photo-with-baby-goes-viral-as-shoppers-chime-in-with-similar-stories/) [COSTCO](https://marketrealist.com/profile/costco) [Costco membership photo of a couple is winning hearts for the sweetest reason](https://marketrealist.com/costco-membership-photo-with-baby-goes-viral-as-shoppers-chime-in-with-similar-stories/) A Michigan couple’s viral membership photo struck a chord online as shoppers shared decades-old stories featuring their kids and even pets. Mar 16, 2026 [](https://marketrealist.com/irs-refund-delays-hit-830-k-taxpayers-here-is-what-you-should-know/) [ECONOMY & WORK](https://marketrealist.com/economy-work) [Your IRS refund might be delayed — almost 830,000 taxpayers to bear the brunt](https://marketrealist.com/irs-refund-delays-hit-830-k-taxpayers-here-is-what-you-should-know/) A shift to electronic payments is slowing refunds for some filers, even as the IRS grapples with staffing cuts and a heavy tax season workload. Mar 16, 2026 [](https://marketrealist.com/costco-recalls-meatloafs-across-over-28-states-due-to-salmonella-risk/) [COSTCO](https://marketrealist.com/profile/costco) [Costco recalls meatloaf meals sold across 28 states after 'fatal' Salmonella risk](https://marketrealist.com/costco-recalls-meatloafs-across-over-28-states-due-to-salmonella-risk/) The warehouse retailer is urging customers not to consume these ready-to-eat meals sold earlier this month Mar 16, 2026 [](https://marketrealist.com/lidl-chocolates-recalled-undisclosed-allergen/) [ECONOMY & WORK](https://marketrealist.com/economy-work) [Popular chocolate recalled due to hidden allergen — key details about refunds revealed](https://marketrealist.com/lidl-chocolates-recalled-undisclosed-allergen/) The product was distributed in several but no illness has yet been reported. Mar 14, 2026 [](https://marketrealist.com/tiktok-user-flags-parking-payment-at-malls/) [ECONOMY & WORK](https://marketrealist.com/economy-work) [Shopper posts video about a policy that keeps people away from malls — and it makes sense](https://marketrealist.com/tiktok-user-flags-parking-payment-at-malls/) While most people disagreed with what the mall did, there were some who understood the reason. Mar 14, 2026 [](https://marketrealist.com/americans-withdrawing-401-k-funds/) [ECONOMY & WORK](https://marketrealist.com/economy-work) [Americans are withdrawing retirement funds while still working — but there are limits to it](https://marketrealist.com/americans-withdrawing-401-k-funds/) People are seemingly having a hard time saving apart from their retirement funds. Mar 14, 2026 [](https://marketrealist.com/how-are-immigrants-reducing-the-national-deficit/) [ECONOMY & WORK](https://marketrealist.com/economy-work) [Immigrants in US reduced federal deficit by \$14.5 trillion — paid more taxes than benefits they got](https://marketrealist.com/how-are-immigrants-reducing-the-national-deficit/) “These people are working and contributing and helping to reduce the debt and deficit,” an economic expert said. Mar 14, 2026 [](https://marketrealist.com/millions-eligible-for-covid-tax-refunds/) [ECONOMY & WORK](https://marketrealist.com/economy-work) [Millions of Americans may receive a payout from the IRS as part of COVID era relief — key details](https://marketrealist.com/millions-eligible-for-covid-tax-refunds/) As per a provision in US laws, the IRS had no right to levy penalties in the pandemic years. Mar 14, 2026 [](https://marketrealist.com/us-allows-countries-to-buy-russian-oil/) [ECONOMY & WORK](https://marketrealist.com/economy-work) [Trump admin allows other countries to buy Russian oil — but there's a catch](https://marketrealist.com/us-allows-countries-to-buy-russian-oil/) The US had sanctioned Russia heavily over its military exercise in Ukraine. Mar 14, 2026 [](https://marketrealist.com/rising-diesel-prices-are-likely-to-hurt-farmers-during-an-energy-dependent-spring-planting-season/) [ECONOMY & WORK](https://marketrealist.com/economy-work) [High diesel prices are hurting American farmers badly — just as planting season begins](https://marketrealist.com/rising-diesel-prices-are-likely-to-hurt-farmers-during-an-energy-dependent-spring-planting-season/) While gas prices have jumped, diesel prices have skyrocketed across the country, averaging at \$4.78 Mar 13, 2026 [](https://marketrealist.com/warren-buffett-calls-cash-oxygen-but-as-an-asset-its-volatile/) [ECONOMY & WORK](https://marketrealist.com/economy-work) [Billionaire Warren Buffett reveals why cash is like 'oxygen' but 'not a good asset'](https://marketrealist.com/warren-buffett-calls-cash-oxygen-but-as-an-asset-its-volatile/) Last year, Buffett stepped down as the CEO of Berkshire Hathaway. Mar 13, 2026 [](https://marketrealist.com/when-saving-feels-futile-americans-turn-to-risk/) [ECONOMY & WORK](https://marketrealist.com/economy-work) [Some Americans are embracing 'financial nihilism' for big returns — here's what it means](https://marketrealist.com/when-saving-feels-futile-americans-turn-to-risk/) Many who feel financially behind are embracing “financial nihilism,” placing bets on high-risk options instead of traditional investing. 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Mar 13, 2026 [](https://marketrealist.com/microsoft-ai-can-provide-medical-advice-and-access-health-records/) [ECONOMY & WORK](https://marketrealist.com/economy-work) [Microsoft's AI tool can get access to your health records and provide tailored medical advice](https://marketrealist.com/microsoft-ai-can-provide-medical-advice-and-access-health-records/) The company is doing whatever it can to stay ahead of its competitors in the field of AI. Mar 13, 2026 [](https://marketrealist.com/fertilizer-shipments-through-strait-of-hormuz-raise-concerns-over-future-food-inflation/) [ECONOMY & WORK](https://marketrealist.com/economy-work) [Middle East crisis threatens to make a lot of things other than gas expensive for Americans](https://marketrealist.com/fertilizer-shipments-through-strait-of-hormuz-raise-concerns-over-future-food-inflation/) Industry leaders warn that the Iran conflict could push fertilizer costs higher and eventually drive food inflation. 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He believes that the situation is similar to what the country witnessed before the 2008 crash. On paper, the US economy is doing quite well, with asset values appreciating to record highs. But all of that might be for naught as JPMorgan Chase CEO Jamie Dimon believes the country could be heading towards a [2008-like situation](https://marketrealist.com/what-does-peter-schiff-think-about-rising-gold-prices-and-the-next-economic-crisis/) all over again. Dimon expressed anxiety over the direction the market was headed, and said that he did not have much confidence in high-value assets either. If anything, the situation is mirroring the market in the years leading up to the 2008 crash.  CEO of JPMorgan Chase, Jamie Dimon. (Image Source: Getty Images \| Photo by Noam Galai) “There will be a cycle one day. I don’t know what confluence of events will cause that cycle. My anxiety is high over it. I’m not assuaged by the fact that asset prices are high. In fact, I think that adds to the risk,” Dimon said as per a [report](https://edition.cnn.com/2026/02/24/economy/jamie-dimon-warning) in CNN, before adding, “Unfortunately, we did see this in 2005, 2006, and 2007, almost the same thing. The rising tide lifts all boats. Everyone was making a lot of money. People were leveraging to the hilt. The sky was the limit.”  JPMorgan Chase & Co. Logo (Image Source: Getty Images \| Photo by Eduardo Munoz Alvarez \| VIEWpress) Dimon was also not pleased with some banks in the country doing “dumb things” like taking on risky loans. He remained adamant that his bank remained cautious in its approach and abided by the rules. “And I think today, the rising tide is lifting all boats. My own view is people getting a little comfortable that this is real, these high asset prices and high volumes, and we won’t have any kind of problem, whatsoever,” he said. “I don’t know how long it’s going to be great for everybody. I see a couple of people doing some dumb things,” Dimon added. It is not just the market and the banks that the JPMorgan Chase CEO is concerned about. He also expressed similar feelings about the impact of [artificial intelligence](https://marketrealist.com/morgan-stanley-says-economy-is-growing-because-of-ai-investments-rather-than-revenue/) on the country, especially in the software sector. Dimon believes that disruptions in the software industry were typical of past events.  JPMorgan Chase CEO Jamie Dimon speaks at an event. (Image Source: Getty Images \| Photo by Kevin Dietsch) “There’s always a surprise in a credit cycle. And this time around, it might be software, because of AI….There are moving tectonic plates underneath it, which cause the industry to be challenged,” he explained. Dimon isn’t against the rapid [development of AI](https://marketrealist.com/what-did-jp-morgan-chase-ceo-jamie-dimon-said-about-ai-replacing-jobs/), but he still urged people to exercise caution with the technology. In fact, he believes AI won't reduce jobs drastically but will instead make life easier for mankind, as he previously said, "Look, I don't think AI is going to dramatically reduce jobs like unbelievably next year. And for the most part, AI is going to do great stuff for mankind, like tractors did, like fertilizer did, as vaccines did — it'll save lives."  Los Angeles Times Guild members rally outside City Hall against ‘significant’ imminent layoffs at the Los Angeles Times newspaper (Image source: Getty Images \| Photo by Mario Tama) That said, just like cars, airplanes, and pharmaceuticals, Dimon believes that AI needs to be properly regulated. He further claimed that if the government figures out a way to regulate AI, then it will eliminate some jobs, but people will still have other professions to fall back on. **More on Market Realist** ['The Big Short' investor who predicted 2008 crisis reveals how Venezuela raid can shape markets](https://marketrealist.com/what-is-michael-burrys-views-on-the-u-s-raid-on-venezuela/) [Investor who predicted 2008 financial crisis comes up with another prediction — this time against AI](https://marketrealist.com/why-is-michael-burry-betting-against-ai-nvidia-and-plantir/) [Expert who predicted the dotcom crash says Americans could face a much bigger crisis soon](https://marketrealist.com/is-there-an-ai-bubble-and-is-it-going-to-burst/)