Cockroaches on Wall Street

My antenna goes up when things like that happen. When you see one cockroach, there's probably more. Everyone should be forewarned.
— Jamie Dimon, JPMorgan CEO

In this quote from October 14, 2025, the "cockroach" Dimon is referring to is subprime auto lender Tricolor Holdings, which just the month before had been found dead on the kitchen floor, with its six legs in the air.

Dimon is worried that there may be more private-lender bankruptcies on the horizon. These can have a direct impact on banks and investment banks, which have invested heavily in private lenders like Tricolor.

That worry is understandable considering that Dimon's JPMorgan lost $170 million in Tricolor's implosion.

If more "cockroaches" do emerge, that could also increase the recession risk, being a sign that consumers and businesses are doing worse than previously thought.

If you take Jamie Dimon's advice, you'll keep your eyes peeled for any critters scurrying across the floor when you turn on the lights at night.