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His tail between his legs at the moment, Jamie Dimon is no longer the banker who can stand up...

Tuesday, August 21, 2012, 9:18 AM ET
His tail between his legs at the moment, Jamie Dimon is no longer the banker who can stand up (remember this tantrum) against the regulatory onslaught faced by the industry. "The government is piling on the banks," says a fund manager. "Somebody has to fight the damn thing."

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This news story has 3 comments:

Tom Armistead Comments (4558)

The banks have lost credibility and moral authority. They will have to clearn up their acts before they can make a case for less regulation.

That will take some time. In the meantime, we can be grateful that they will be regulated sufficient to prevent them from creating another financial crisis.

21 Aug 2012, 09:58 AM Reply Like

Dant Comments (7)

Bank lobby + susceptible Congress = current banking climate

21 Aug 2012, 12:21 PM Reply Like

whidbey Comments (3032)

The pity is that Banks are bloated institutions engaged not in banking, but speculation, trading with the Fed, and hedging their portfolios, not the mention selling CDS to others( a form of insurance). Notice: less than 20% of their income comes from so-called commercial banking, the "traditional" work of bankers. It is a new world and the principals of this brave collection: money center banks, central banks, politicians and speculators know each other too well and need government to regulate each other. God help the ordinary citizen, he is the proverbial man with a knife in a gun fight. To hell with Jamie and his industry.

21 Aug 2012, 11:04 PM Reply Like

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