Tuesday, May 15, 2012

Jamie Dimon: The FACE of Why Banks Need to be Regulated!

Jamie Dimon-2012 Photo

MEET JAMIE DIMON
THE "FACE" OF WHY BANKS NEED TO BE REGULATED!

Jamie Dimon is the Chairman, President and CEO of JPMorgan Chase, the nations biggest bank, with an annual salary of $23 million (in between millions in bonuses each year). He is also on the Board of the New York FED.

Jamie Dimon is 56 years old and is a career lobbyist against banking regulations. In 1999 he, with others, succeeded and a Republican Congress  repealed  The Glass-Steagall Act of 1933, with President Clinton agreeing. 

Prior to 2000, Glass-Steagall exacted clear government regulations on the banking industry. Those regulations prohibited "gambling" and blending depositor (money) and investment banking by separating the investment banks from savings banks.

With Glass-Steagall gone, in 2008, the American banking system collapsed and took much of the world monetary system with it which caused and continues to cause the economic plights we all are experiencing to this day.  

Although congress and the president have put some new bank regulations into place, after almost 4 years beyond the current economic disaster, the full effectiveness and power of Glass-Steagall  has not been restored.  


Accordingly, most recently and within the last few weeks, JPMorgan Chase has lost and gambled away more than $2 billion of the peoples money.

The Face of Why Banks Need to be Regulated
Jamie Dimon made an apology of sorts to a congressional committee last week, while keeping his $23 mil a year (plus bonuses intact) and continues to lobby for more Wall Street deregulation! 

Is it not time to demand the Glass-Steagall Act of 1933 be restored in full as law?

CONTACT YOUR CONGRESS PEOPLE NOW AND MAKE YOUR THOUGHTS KNOWN!

J. 
(For ancillary information, please refer to an earlier article, "THE WALLSREET FORECLOSURE FRAUD........", dated October 14, 2010, on this blog.)

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