JPMorgan CEO Jamie Dimon warns of impending catastrophe and overregulation.

JPMorgan CEO Jamie Dimon believes that the Federal Reserve should focus on fixing the banking crisis rather than adding more regulations. He argues that more regulations make it harder for banks to conduct business and that a holistic approach is needed when modifying regulations. Dimon questions the effectiveness of stress tests and suggests that focusing solely on one stress test gives a "false sense of security." He believes that the Federal Reserve never saw issues emerging in the banking industry and that more pain could be ahead for US banks if overregulation continues.