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|User Info||JPM: Watch The Duplicity!; entered at 2012-05-21 09:29:41|
Registered: 2009-03-23 pure Liquid pleasure
If I understand this correctly, all of the bets in question were placed at the CIO office in London which means that any regulation passed in the US (i.e. the Volker rule) would be not applicable. As a matter of fact this would mean that even though JPM is an American corporation it does not hold any allegiance to the USA because of its multinational operations. It does not have to operate in Americas best interest. |
I am still for cutting away and burning the entire safety net these TBTF banks enjoy. Its mission impossible to expect CONgress and the regulators to police these criminals and about time for every day depositors to start a grassroots movement to starve the beast and publicly shame these institutions.