Jamie Dimon warns of 'cockroaches' in US economy as credit concerns grow

Core Insights - JPMorgan Chase CEO Jamie Dimon highlighted potential credit risks in the economy, suggesting that the presence of isolated issues may indicate broader problems [1][2] - The bank reported a $170 million write-off in Q3 due to the bankruptcy of subprime auto lender Tricolor, which Dimon described as "not our finest moment" [1][5] - Dimon noted that the ongoing credit bull market since 2010 may be showing early signs of excess, warning that a downturn could lead to more credit issues [5][6] Company Specifics - JPMorgan is currently reviewing its controls following the Tricolor bankruptcy to prevent similar occurrences in the future [5][6] - The bankruptcy of auto parts maker First Brands was also mentioned as a potential indicator of looming credit problems, with Dimon urging caution [2][5] - First Brands is under investigation by the Justice Department for possible fraud or misconduct related to its business affairs [7]