Jamie Dimon warns of ongoing banking crisis and long-term repercussions.

Jamie Dimon, CEO of JPMorgan Chase, warned in his annual letter to shareholders that the repercussions of the recent banking crisis will be felt for years to come. He attributed the turmoil to risks lurking on banks' balance sheets, regulations, and the failure of stress tests to account for rapidly rising interest rates. Dimon cautioned against knee-jerk rule-making in response to the current tumult and called for the right mix of rules that take into account factors such as customer concentration, uninsured deposits, and limitations to accounting practices. Despite the jitters, he said the economy is in "pretty good" shape.