JP Morgan Chase CEO Jamie Dimon certainly has a flair for defending his positions in colorful terms, and sometimes with salty language. He is not one to mince words when he's worked up, like he is now about various aspects of, say, Dodd-Frank and Basel III.

Regarding Basel III, he said this to the Financial Times: "I'm very close to thinking the United States shouldn't be in Basel any more. I would not have agreed to rules that are blatantly anti-American. Our regulators should go there and say: ‘If it's not in the interests of the United States, we're not doing it'."

He's all for asking banks to maintain a larger capital cushion, but the added surcharge that the new capital rules would impose on the largest banks, including JP Morgan Chase, are discriminatory in that they would mainly affect the big U.S. banks. In fact, five of the eight banks affected are from the United States. 

"He objected to both the additional buffer of 2.5 percent and the way capital is calculated. Mortgage-servicing rights, a U.S. market feature which takes cash flow from homeowners paying mortgages, are strictly limited in counting towards tier one capital."

You can bet other executives feel this way. But the window to change all this may have passed, as banks seemed to devote most of their political resources toward Dodd-Frank. Then again, they have yet to train their full attention on this issue. There is a long ramp up period before the rules fully take effect.

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