Below the Fold: Regulation. What is it Good For?

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Below the Fold: Regulation. What is it Good For?

Below the Fold: Regulation. What is it Good For?

Richard Zombeck-

Never mind that JPMorgan lost, by some estimates, $30 billion dollars due to bad bets or that the Facebook IPO cost investors millions, “when internal analysts learned that Facebook’s numbers were going to be worse than expected, the company and its bankers didn’t tell everyone, but just ‘selectively disclosed’ information to a small group of ‘preferred investors,” according to Matt Taibbi, of Rolling Stone. It is business as usual on Wall Street and of no concern to us, the unwashed masses. Meanwhile, JPMorgan CEO, Jamie Dimon is out and about again, railing against regulation.

This isn’t the first time Dimon’s complained about too much regulation. Here’s Huffington Post Hunter Stuart’s “Jamie Dimon Really, Really Hates Financial Regulation” mashup. Dimon has called regulation anti-American, anti-business, an attack on work ethic and successful people. He’s even gone so far as to call public criticism of bankers “a form of discrimination.” All this from a guy who has to sit in the back of the limo, drink from his own fountain, and makes his money betting with other people’s pensions, savings, and retirement funds.

[HUFFINGTON POST]

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