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

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Thom Hartmann A...
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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.

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antikakistocrat
antikakistocrat's picture
Thom Hartmann Administrator

Thom Hartmann Administrator wrote:

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

 

Karolina
Karolina's picture
Ron Paul is a

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.

 

douglaslee
douglaslee's picture
This will be spun as Obama's

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

Karolina
Karolina's picture
douglaslee wrote:This will be

douglaslee wrote:
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. 

captbebops
captbebops's picture
I would predict a run on

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