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HUFFPOST SUPER USER
GloriaY
11:01 PM on 05/28/2012
Explaining the banks' activities in complex terms serve as a means to deliberately confuse the ordinary person who is not affiliated to the banking world. Perhaps the explanation may be too convoluted for some bankers to themselves understand. What's more, gambling with money not tied to the US Treasury is fine, and it should not interest us unless we are shareholders. This $2 or 3 or 6 billion "error" begs for the imposition of banking reform and regulations but unfortunately that will never happen with our republican controlled do nothing congress. It will meet with stiff opposition both on Wall Street and the republican controlled congress, and interestingly enough no one will spend one second behind bars. Only in America.
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HUFFPOST SUPER USER
InfinteShibumi
Just breathe...
10:48 PM on 05/28/2012
If it's too complex to understand or explain, it's very easy to obfuscate.
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HUFFPOST SUPER USER
John Derrick
Integrity isn't a gift...it's a mindset!
10:17 PM on 05/28/2012
Whenever government mettle's in business it inevitably ends the same way....disaster and losses that taxpayers always seem to be harnessed with to "fix." Meanwhile, Washington gives themselves more benefits and raises for seemingly "doing their jobs." I consider the banking neglect has gone much the same way as our "secure" borders in that both fall through cracks opened by Washington and at the hands of those who carry no ultimate responsibility or accountability for their actions. The fix can only come by replacing anyone in Washington that seeks to fill their pockets (at the expense of others).
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HUFFPOST SUPER USER
John Derrick
Integrity isn't a gift...it's a mindset!
10:05 PM on 05/28/2012
It's not only Banking that demands simplicity; its also government, healthcare, Wall Street....and this list goes on and on. Technology is a wonderful thing that is suppose to simplify the lives of people. So, what happened? Where have we all gone so wrong leading to more work hours/days/weeks/years with less and less time for family, friends and social behavior which would otherwise enrich all of our lives. Until we learn to put down those cell phones and computers, turn off the TV's and start spending quality time with each other, sharing each others work and joy...it seems pretty remote.
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cimmereo
manu ad ferram
10:00 PM on 05/28/2012
Well said, Mr Goodman!
09:58 PM on 05/28/2012
Bring back Glass-Steagall- if Chase wants to risk their own money, not government backed, then let them- The stock holders will decide.

Get the government backed money out of the hands of the gamblers, and put it into the safest place possible.
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HUFFPOST SUPER USER
Zewee
09:52 PM on 05/28/2012
Keep it simple: Stop stealing!
HUFFPOST SUPER USER
Bernard L Eastman
09:18 PM on 05/28/2012
The story cited below is very important for all Americans in this election year. We can learn how to have a happy and healthy country that does not abandon the idealistic heritage of the original visions of equality of the founding fathers. Will the wealth of the Republican Super PACS, the 1%, permit democracy to be bought and sold so we will go back to feudalism where there are only Lords, and serfs?

Canada’s score of 7.4 has much to do with the success of its health care system, a socialized plan that provides coverage to all of its citizens. As many as 88% of Canadians report their health to be “good” or “very good,” which ranks third among all nations surveyed. Canada also ranks among the top 15 nations in life expectancy. Other factors that may be contributing to Canadians’ high life satisfaction level are education and employment levels. Some 88% of Canadians have at least a high school diploma — the fifth-highest rate among the nations the OECD reviewed. Also, 72% of working-age citizens are employed — the seventh-highest rate. By comparison, Italy — one of the poorer-performing countries in these categories — has a working-age employment rate of 57%, and only 54% of its population has at least a high school diploma.

Read more: The Happiest Countries in the World - 24/7 Wall St. http://247wallst.com/2012/05/22/the-happiest-countries-in-the-world-2/#ixzz1wDTLXUVb
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loki
cheap politicians for sale
09:16 PM on 05/28/2012
They cant go simple. How can they hide all the corruption if most people can understand what they are doing? They make it complicated just for that reason, to confuse and baffle and conceal crimes. Misdirection by mathematic mazes not even Martin Gardner could decipher.
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HUFFPOST SUPER USER
freedomny
99% = TBTF
09:07 PM on 05/28/2012
Anyone who has had to deal "personally" with a family member, close friend, or even an acquaintance, that has a mental illiness, such as bi-polar....should understand what has happened to the the banking industry.
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09:04 PM on 05/28/2012
Max Keiser....Stacy Herbert !!! ....Learn the truth about finance .
HUFFPOST COMMUNITY MODERATOR
ReasonIsMyReligion
Don't know much micro-bio-logy
08:55 PM on 05/28/2012
Huzzah.

Note that a bedrock principle of gambling is understanding the bet, even if, as in horse racing, the "odds" aren't mathematically as scientific as at craps.

We have pigs at the trough playing pig in a poke.

Stop the insanity.
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HUFFPOST SUPER USER
Steve Rockett
08:37 PM on 05/28/2012
Build a special prison for bankers in Mexico.
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cimmereo
manu ad ferram
10:00 PM on 05/28/2012
Or make them stock Walmart shelves at minimum wage with no overtime or health benefits.
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uniquindividual
I'm unique and so are you
08:10 PM on 05/28/2012
It is reprehensible that banks can still legally use FDIC insured deposits in their gambling activities on Wall St. and derivatives.

Bring back Glass Steagal.
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loki
cheap politicians for sale
09:19 PM on 05/28/2012
it will never happen. The lobbyist army is to well financed, and to well entrenched in DC for anything that would bring rules and laws about that would force the criminals from committing these huge crimes , which currently are no longer considered crimes due to their bribing, buying and forcing legislatures hands to change illegal acts, into legal acts for a small few.
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The Joler
nil sine labore
11:58 PM on 05/28/2012
Alas I feel that you are right.
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cimmereo
manu ad ferram
09:59 PM on 05/28/2012
And implement Volcker's recommendations.
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uniquindividual
I'm unique and so are you
11:09 PM on 05/28/2012
Agreed.
08:00 PM on 05/28/2012
Looking at Blankfein, Dimon, and Mack gesture wildly makes one wonder if your not watching 2/3 of a Ben Deit.
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HUFFPOST SUPER USER
InfinteShibumi
Just breathe...
10:47 PM on 05/28/2012
Sorry?