JPMorgan Chase Chief Executive Officer Jamie Dimon took aim at U.S. Senator Elizabeth Warren, a critic of large banks, as he expressed broad concerns about leadership in Washington.
"I don't know if she fully understands the global banking system," Dimon, speaking Wednesday at an evevt in Chicago, said of the Massachusetts Democrat. Still, he said he agrees with some of her concerns about risks.
Warren, a Senate Banking Committee member, has won popular support and gained influence in her party by openly challenging the size of large firms and their political power. She has said it was a mistake for the U.S. government to refrain from breaking up big banks, such as Citigroup, after the 2008 financial crisis. Last month, as firms including JPMorgan pleaded guilty to resolve probes into market rigging, she criticized regulators for granting waivers that let the companies continue operating certain businesses.
Dimon, who runs the largest U.S. bank by assets, said he would meet with Warren any time she wants. Warren's office didn't immediately respond to phone messages and e-mails seeking comment.
A former law professor, Warren led the congressional oversight panel for the Treasury Department's 2008 bailout of the financial system. She proposed the creation of what eventually became the Consumer Financial Protection Bureau to help shield Americans from predatory financial products after the crisis.
Dimon said he met with Warren during the agency's founding to discuss credit cards. At the time, she said, "by the way I have your credit card, and I love it," the CEO recalled Wednesday.
Later, when asked about his biggest worries, Dimon expressed concern that the U.S. may eventually be hurt by ideological decisions being made in Washington.
Billionaire Warren Buffett, who profited from investing in banks while faulting the industry's lapses, said in March that Warren's approach to Wall Street is too confrontational.
"She would do better if she was less angry and demonized less," Buffett, who leads Berkshire Hathaway, told CNBC at the time. "I believe in 'hate the sin, and love the sinner.'"