The U.S. was not adequately prepared for the current coronavirus pandemic and needs to address bad planning and management to better prepare for future ones, JPMorgan Chief Executive Jamie Dimon said Monday. In his annual letter to shareholders, Dimon said he hoped America will "roll up its sleeves" and start to attack its problems, including a costly health care system and unequal access to education, a litigation and regulatory system that cripples small business and ineffective infrastructure. "There should have been a pandemic playbook," he wrote. "Likewise, every problem I noted above should have detailed and nonpartisan solutions." Dimon took a detour from his usual annual letter, that tends to address issues of geopolitical importance and public policy issues, along with his views of the bank and its performance. "When the time is right and the future is clearer, I will provide a more complete and current view on how this crisis might change our strategies around how we run the company, work with our clients and governments, and develop public policy solutions," he said. "However, right now, as we deal with the spiraling effects of this pandemic, I want to focus on what we as a bank can do to remain strong, resilient and well-positioned to support our colleagues, clients, customers and communities across the globe." JPMorgan's 2020 earnings "will be down meaningfully," he said, but the bank has sufficient capital to get through even the most adverse scenario. The bank is willing to work with the federal government on its stimulus programs to help get credit to businesses that need it. More than 180,000 JPMorgan employees are working from home, but the bank has been able to keep three quarters of its roughly 5,000 branches open. The bank is providing a 90-day grace period for mortgage and car loan payments, is removing minimum payment requirements on credit cards and waiving or refunding fees on such things as early withdrawal fees on CDs, he said. Customers have drawn down more than $50 billion of revolving credit facilities and the bank approved more than $25 billion of new credit extensions in March alone. The first quarter was the biggest for investment grade bond issuance, said Dimon. The bank has stopped buying back its own shares and the board would consider suspending its dividend in a worst-case scenario. JPMorgan shares JPM, -1.14% rose 3.9% premarket but are down 40% in the year to date, while the Dow Jones Industrial Average DJIA, -0.46% has fallen 26%.