They called him a hero. The most esteemed banker of his time. The captain who could steer the ship while others foundered. Now the truth is out, and Wall Street's golden boy, Jamie Dimon, has fallen to earth with a thud. Why did it take so long?
Congress has only two choices. The big banks can be nationalized and treated as public utilities. The public would pocket their profits and cover their losses. Or the big banks can be broken up, and be accountable to both the law and the market.
Two long-awaited reports were published today at ShaleBubble.org by the Post Carbon Institute (PCI) and the Energy Policy Forum (EPF). Together, the reports conclude that the hydraulic fracturing ("fracking") boom could lead to a "bubble burst" akin to the housing bubble burst of 2008.