JP Morgan's Jamie Dimon is very good at getting what he wants. And now he wants to run a bigger, more interconnected, and more global bank that -- if it were to fail -- would cause great chaos around the world.
Unemployment in Pontiac, Michigan is at 30 percent. And if housing needs to lead us out of the recession, the hard times will be with us quite a while longer. Welcome to the new normal in manufacturing and housing.
By blaming homeowners, bankers are trying to harness the anger of ordinary people -- who are angered by the economic disaster that Wall Street itself created -- and give ordinary people a reason to turn on each other.
The mega-bankers who derailed the economy have a new PR campaign to sell you. They're saying that families who can't pay their mortgages must bear the blame -- all the blame -- for the foreclosure crisis.
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."