Dimon Should Change His Name to ‘Demon’
2:40 pm in Uncategorized by Omnipotent Poobah
PUT 'EM UP! - Chase CEO Jaime Demon will go to the mat to block banking regulations that are anti-American. He apparently doesn't feel the patriotism for American regs either. Click photo for more >>
There are few things Tea Partiers and I both believe, but this is one: there should be as little business regulation as possible. Past that, the brewerskies start making tea while wearing tri-cornered hats and carrying signs that read, “Don’t Tread on Me”.
Then, I tune them out when my ears begin to bleed.
The baggers argue there should be little or no regulation so that businesses make a lot of money (this is the true part). They argue that the dearth of regulations (this is the not so true part) will allow them to make enough money to hire more workers and have the economy fixed as quick as they can toss the regulators’ gavels on the dung heap.
The lack of regulations frees business to act as businesses normally do…profit becomes a Holy Grail that overrides everything else, including the safety of their workers and real public damage from companies that continue to do unscrupulous things, even when they know a lot is at stake.
For instance, there was that little oil spill a while back. The one where BP said all that leaking oil was only a smidge of the total volume of the Gulf of Mexico so things were A-OKAY…I’m sure the fishermen and crabbers totally agreement with that.
Regulations? Regulations? We Don’t Need No Regulations
The latest example of a corporation that just doesn’t get it is JPMorgan Chase – a bank that ends up on many, “Worst of the Worst Lists“. Chase CEO Jaime Dimon thinks most international banking regulations are a bunch of piffle that are “anti-American.
“I’m very close to thinking the U.S. shouldn’t be in Basel anymore,” Dimon said. “I would not have agreed to rules that are blatantly anti-American.” In other words, he can’t agree with current regulations unless he writes them and gets to vote on whether he’ll follow those pesky laws he didn’t write. Read the rest of this entry →
