Jamie Dimon, chairman and chief executive of JP Morgan Chase, is well-known for speaking bluntly and seems to have surpassed himself in a TV interview where he said that the "big dumb banks" should be allowed to go under. The job of the resolution authorities is to ensure the consequences are kept to a minimum, he said.

In the CNN interview aired with Fareed Zakaria over the weekend, Dimon said the role of the resolution authorities, such as those proposed in the Dodd-Frank Act, was to take down the failed banks without damaging the economy. The banks -- and their creditors -- should pay for the failure, he said.