Jamie, don't go away mad. Jamie, just go away.

[marmar]

from HuffPost:


Jamie Dimon likes banks just the size they are, thank you very much.

During Barclays’ Global Financial Services Conference on Tuesday, the CEO of JPMorgan Chase defended too big to fail banks in a fireside chat of sorts.

"There are huge benefits to size,” Dimon argued, adding that the large size of his bank allowed it to be “a port in the storm” during the 2008 financial crisis, according to The New York Times. “Big banks have a function in society."

Dimon’s comments come just a couple of months after Sandy Weill, the former Citigroup CEO famous for helping to create the Wall Street giant, said in a stunning reversal that it might not be such a bad idea to break up big banks. Former executives at Morgan Stanley, Merrill Lynch and other banks have also said they’re in favor of big banks breaking up their various units. ...............(more)

The complete piece is at: http://www.huffingtonpost.com/2012/09/11/jamie-dimon-big-banks_n_1875507.html

[xchrom]

1. I really hate that man. Nt

[rfranklin]

2. "Big banks have a function in society..." Yes, to make the one percet richer!

He was using the word "society" in the other sense, which does not include the riff raff.

[Volaris]

3. 2 things...

First--We already have a Bank that is supposed to serve as a "port in the storm", its called the FEDERAL RESERVE, and despite what the Paulites all might think of it, that IS one of the useful things we designed it to do. Jamie is just pissed that HIS bank isn't as big as the Governments...
Second--I love how many of the FORMER banking moguls all agree that the banks are too big..to me, it echoes St. Augustine when he said "Lord, please make me Good, just PLEASE not yet."

I really, really hate Dimon. SUCH a prick.