JPMorgan Chase CEO Jamie Dimon recently said that he felt safer in Lebanon than when Occupy marched past his house. If nothing else, it proves Wall Street bankers haven't gotten any better at risk management than when their bad bets crashed the economy and caused the Great Recession.
Our finance industry is on the attack again. The industry target now is the Volcker rule -- the proposed rule that would limit the ability of banks to trade for their own account. Leading the attack has been JPMorgan CEO Jamie Dimon.
Now, when there are some very real and very serious anti-American actions being asked for, Dimon is strangely silent. Could it be because the current anti-American requests coincide with his claims against financial reform? Of course it is.
There he goes again. Wall Street is fighting tooth and nail to emasculate the Dodd-Frank Bill, focusing its artillery on the Volcker Rule, namely those sections calling for the elimination of proprietary trading by banking institutions.
"I didn't do anything wrong. I'm doing this for my family and for the millions of other families in similar situations. We can't let the Wall Street banks and Freddie Mac get away with these kinds of practices."