JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said some municipalities will need to renegotiate their debt and a hundred of them may “not make it.”
“I wouldn’t panic about what I’m about to say,” he said today at a U.S. Chamber of Commerce event in Washington.
“You’re going to see some municipalities not make it. I don’t think it’s going to shatter America, I just think it’s a part of the credit cycle.”
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