A Finance Overhaul Fight Draws a Swar...

A Finance Overhaul Fight Draws a Swarm of Lobbyists

There are 1 comment on the The New York Times story from Apr 20, 2010, titled A Finance Overhaul Fight Draws a Swarm of Lobbyists. In it, The New York Times reports that:

Assessing the battle to overhaul the nation's financial regulations recently, Jamie Dimon , the chief executive of JPMorgan Chase , left no doubt about the consequences if Congress cracked down on his bank's immense business in derivatives .

Join the discussion below, or Read more at The New York Times.

Since: Apr 07

Tujunga, CA

#1 Apr 20, 2010
So if regulating derivatives and Goldman like deals are so profitable and necessary, why did the taxpayers have to bail out the banks and why do they need a too big too fail clause in the financial reform bill? If Congress and the taxpayers face such "consequences," then the bailout and future bailouts were not necessary. Perhaps the whole thing was (and is) a sham. Not only should taxpayers get TARP back but with interest and a share of the profits.

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