The fallout from JP Morgan Chase’s two billion dollar gambling loss continues

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The bank’s chief investment officer announced she will step down – and sources close to the bank said that at least two more heads will roll after the bank’s serious financial blunder. And now the top dog at JP Morgan Chase – CEO Jamie Dimon – may not escape this fiasco unscathed.

Massachusetts Senate candidate – and consumer watchdog, Elizabeth Warren, is calling on Dimon to resign as director of the Federal Reserve Bank of New York. In a statement to supporters, Warren wrote, “Dimon should resign from his post at the New York Fed to send a signal to the American people that Wall Street bankers get it and to show that they understand the need for responsibility and accountability.”

What happened at JP Morgan Chase should be a wake-up call that not nearly enough has been done following the 2008 crash rein in the banksters who won’t think twice about crashing our economy again just to boost their quarterly earnings.

Thom Hartmann Administrator's picture
Thom Hartmann A...
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Quote Thom Hartmann Administrator:

The bank’s chief investment officer announced she will step down – and sources close to the bank said that at least two more heads will roll after the bank’s serious financial blunder. And now the top dog at JP Morgan Chase – CEO Jamie Dimon – may not escape this fiasco unscathed.

Massachusetts Senate candidate – and consumer watchdog, Elizabeth Warren, is calling on Dimon to resign as director of the Federal Reserve Bank of New York. In a statement to supporters, Warren wrote, “Dimon should resign from his post at the New York Fed to send a signal to the American people that Wall Street bankers get it and to show that they understand the need for responsibility and accountability.”

What happened at JP Morgan Chase should be a wake-up call that not nearly enough has been done following the 2008 crash rein in the banksters who won’t think twice about crashing our economy again just to boost their quarterly earnings.

Don't look now but someone just became a "Paul"-bearer.

http://www.youtube.com/watch?v=L-t_YD-sDhw

http://www.youtube.com/watch?v=QiKh9Ko3mw4&feature=related

antikakistocrat's picture
antikakistocrat
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Apr. 18, 2012 3:41 pm

Ron Paul is a libertarian.

Would he reestablish regulations on the banks, like word-for-word Glass Steagall?

Would he bring back a National Bank for the third time...and not allow it to be thrown away by private bankers?

Would he bring back the Hamiltonian credit system to immediately start the job market booming again?

I don't think so.

Karolina's picture
Karolina
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Nov. 3, 2011 7:45 pm

This will be spun as Obama's fault and his over regulated term. Dodd Frank didn't work, see? So repeal it.

douglaslee's picture
douglaslee
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Jul. 31, 2007 4:01 pm
Quote douglaslee:This will be spun as Obama's fault and his over regulated term. Dodd Frank didn't work, see? So repeal it.

Of course it didn't work—it was not Glass-Steagall. That was the problem — an vastly under-regulated term inherited from Dubya, during which Congress had no courage to stand up to the bankers.

Karolina's picture
Karolina
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Nov. 3, 2011 7:45 pm

I would predict a run on Chase by their customers. Otherwise they are going to wind up footing the bill through increased fees. How much longer are we going to put up with these monster banks that are run by criminals. Dimon should have been sent to prison long ago but of course he has .... "legal counsel" at his shoulder which tells him exactly what he can get away with and what he can't. I bet there are a few bank robbers in prison who wish they had put a couple attorneys on their heist team. :D

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captbebops
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Jul. 31, 2007 4:01 pm

Currently Chatting

Should public radio program in the public interest?

NPR is supposed to be our national public radio, but they're barely covering climate issues that are in the public's interest.

Only one month ago, a national New York Times/CBS News poll found that half of all Americans think that global warming is already having a serious impact. Sixty percent of those surveyed even said that protecting our environment should be a priority “even at the risk of curbing economic growth.”

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