The HSBC money-laundering settlement demonstrates conclusively that the Dodd-Frank reforms have not ended so-called "Too-Big-to-Fail" problem. The outrage about HSBC getting off so lightly has been too narrowly focused.
Will Jamie see how self-defeating such an approach and attitude ultimately is? Will Wall Street move even lower in the opinion of the American people? Those are the questions confronting Jamie and Wall Street at this electoral cross roads.