asterisk2a + power + finance   1

Jamie Dimons Biggest Disaster Is Waiting: Simon Johnson - Bloomberg
Jamie Dimon’s Biggest ‘Disaster’ Is Waiting (WSJ)“Dimon himself has argued that we can’t deal with too-big- to-fail until we have a way to manage the orderly liquidation of big banks. Yet even with the Dodd-Frank overhaul enacted, we still have no process for handling the failure of a big cross- border bank like JPMorgan. There is no framework — either through the courts or directly between governments — to deal with such a collapse, other than through a Lehman-type bankruptcy. So when a big bank next gets into trouble, the choice will be between allowing a meltdown, with presumably awful financial consequences, and providing a bailout, which can have big fiscal impact.”
toobigtofail  2011  fraud  Dodd-Frank  politics  lobby  finance  power  bailout  TARP  SEC  CFTC  FDIC 
february 2011 by asterisk2a

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