Financial Regulatory Reform: Did Jamie Dimon stop the re-enactment of Glass-Steagall?

Update: Oh this is  rich, Andy Stern and SEIU are having an ‘end too big to fail’ rally outside Golden Slacks, it sounds like they are actually supporting the Dodd position which the WH is NOT supporting but we know Andy Stern is there (WH) more than anyone else…so are they ‘accidentally’ using the same words as Jamie? Are they helping to keep Golden Slacks’ negative profile so high they don’t bid on taking any of the assets in the FDIC bank seizure sales? (Jamie is against the Dodd too big to fail legislation because he reportedly wants to buy some of those assets and Golden is a competitor…is the WH not really against the Dodd legislation and lying to Jamie? Is Stern just greedy or is this planned? man oh man…)

…a couple hundred of them — led by Service Unions International Union president Andy Stern — plan to gather outside of Goldman Sachs’ Washington offices Monday morning to protest the firm’s mega-bonuses, and demand the end of the “too big to fail” doctrine, according to a press release.

The event will be held outside 101 Constitution Ave. N.W., an office building that’s home to many of the most powerful lobbyists and corporations in town, including Goldman. It’s also where you can find POLITICO’s Capitol Hill bureau (in the basement).

Among their demands, the protesters will say that Goldman bankers should donate their reported $23 billion in bonuses to foreclosure prevention programs….

jamieboxing

wow. We supported Jamie Dimon for Treasury Secretary. Face it Geithner already gave billions to the banks via AIG and CITI, may as well have a TOUGH fox guarding the hen house, and Jamie is the toughest. Paul Volcker who gets wheeled out for the occasional photo-op is clearly being ignored, treated like the ‘crazy Uncle’,  as Charlie Gasparino puts it.  Obama is listening to only one banker it seems, Jamie who has vested interests in keeping things as they are.

Airtime-Fri. Nov. 13 2009 – 12:50 PM ET – CNBC’s Charlie Gasparino has the details on whether Jamie Dimon is too powerful.

Jamie Dimon-  ‘No Bank Should be Considered Too Big to Fail’

…Dimon, in a Washington Post opinion piece, said the government shouldn’t provide artificial life support to banks that don’t perform. “The term ‘too big to fail’ must be excised from our vocabulary,'” Dimon wrote in Friday’s Post.Yet he said it shouldn’t be the size of the institution that drives the new regulatory policies being considered in Congress but rather their ability to manage risk and provide the best services for customers.

(more…)

November 13, 2009. Tags: , , , , , , , , , , , , , , , , , , , , , , , , , . Economy, FDIC, Finance, Obama Administration, Politics, TARP, Wall St. 1 comment.

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