Dimon, for smart regs. (Richard Drew/AP)

Note to business reporters: Be careful when abridging the position of certain bankers regarding government regulation, per this clarification in the Financial Times:

JPMorgan has asked us to clarify that Jamie Dimon, chairman and chief executive, is not against tougher regulation (Lagarde warns banks over ‘fierce’ resistance to reform, May 28); he is in favour of comprehensive, smarter, regulation.

Given the hilarity of this passage, JPMorgan may want to reconsider its clarification-request policy.