REUTERS: JPMorgan Chase & Co chief executive Jamie Dimon on Thursday called for reforms to U.S. public policy on education, infrastructure and mortgages to repair what he called the"fraying" American dream.
U.S. schools are failing to prepare students for professional-level jobs, he said, and suggested that more high schools and community colleges provide training programs and internships for specific jobs. Dimon also called on the U.S. government to finish implementing the Fixing America's Surface Transportation Act, which was passed in 2015 and is meant to provide US$305 billion to improve America's highways through 2020.Bad mortgage rules are also hindering U.S. economic growth, Dimon said. He called for on policymakers to reduce"onerous and unnecessary origination and servicing requirements" and to open up"the securitization markets for safe loans.