As a deregulation romance novel, hedge-fund manager Daniel Loeb's "investor letter" is a bodice-ripper. It's the latest salvo in an ongoing war against real financial regulations that protect the American people.
"Financial Reform" will be a boom for people in the payday loan business. There will be many new customers who need bank-like services. It's almost like Congress implemented a plan of "Reverse Robin Hood."
An anonymous email's been making the rounds on Wall Street from some loser who thinks he's a shark. Let's get this out of the way first: The only thing worse than a spoiled, self-satisfied brat is a whiny, spoiled, self-satisfied brat.
Mr. Dimon regards himself as just trying to make a reasonable case regarding what is sensible public policy regarding banking. We would welcome a debate with him in any forum, preferably in public and with TV cameras present.