Business

Banking & finance

Private banking

Opinion

Stephen Bartholomeusz Senior business columnist October 20, 2025 — 12.02pm

When JPMorgan Chase’s Jamie Dimon talked about cockroaches last week, he hit a raw nerve within the increasingly complex global financial system.

The reference came after the Wall Street banking giant disclosed a $US170 million ($261 million) charge flowing from the bankruptcy of US sub-prime auto lender Tricolor .

“My antenna goes up when things like that happen,” Dimon said. “And I probably shouldn’t say this, but when you see one cockroach, there are probably more.”

After the $US10 billion-plus collapse of a US autoparts group First Brands , the Tricolor failure and losses within two US regional banks that claim to have been defrauded, it isn’

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