There’s no two ways around it. Both Dimon and the Chamber are dangerous and they’re destroying America. Now Dimon is saying that new regulation will be the “the nail in our coffin for big American banks.” The only “nail” is the one that bankers like Dimon drove through the heart of America when they trashed the economy and sent millions to the unemployment line. Maybe Dimon wants a little refresher on the destruction that his industry left behind? You know, trillions spent saving them, high unemployment, millions of lost homes, credit ruined for individuals (not so much for the banks) and Fed policies that still is punish savers so that the bankers can get their books back in good shape.
Wasn’t it enough to crush everyone else’s hopes and dreams as the economy crumbled? No, the bankers like Dimon still want more. They won’t be happy until they get paid even more and the entire damned country is bankrupt. Keep speaking to the Chamber of Commerce since they also want to see the demise of America. They never know when enough is enough. Financial Times:
Regulators are negotiating international capital standards for the biggest banks but the chief executive of JP Morgan Chase said setting the new requirements too high, or allowing overseas banks to calculate their asset base differently, could disadvantage US banks and was already stifling economic growth.
“If you want to set it so high that no big bank ever goes bankrupt… I think that would greatly diminish growth,” he told a US Chamber of Commerce conference.
If only we could be so lucky. Let the banks go someone else and ruin an economy.