Jamie Dimon Tells Us We Need to Leave Too Big to Fail Banks Alone

Posted on April 7, 2016 by Yves Smith

Jamie Dimon likes to write grandiose letters to shareholders. Unfortunately, the financial media sees fit to treat them seriously. And his minders manage to save him from himself. Right after the crisis, Dimon’s annual missive contained an section praising the heroics of his staff, comparing them at length to the soldiers at Iowa Jima. Dimon was persuaded to get rid of that bit only because his outside PR firm threatened to quit.
This year’s letter, as recapped by the Financial Times, is every bit as exaggerated, although less obviously so to the outsider. The theme this year is why too big to fail banks like his need to be left alone by meanie regulators and rabid politicians.


http://www.nakedcapitalism.com/2016/04/jamie-dimon-tells-us-we-leave-too-big-to-fail-banks-alone.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29