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JPMorgan CEO claims Basel III is anti American

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eventhorizon View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote eventhorizon Quote  Post ReplyReply Direct Link To This Post Topic: JPMorgan CEO claims Basel III is anti American
    Posted: 12 Sep 2011 at 21:49
Is Basel III really anti American, or is it the whining of American financial elite that they are not being able to put Basel III in their pocket just like they are able to with US govt. system and play around with the economic future of 98% of American voting public?

http://blogs.wsj.com/marketbeat/2011/09/12/jamie-dimon-declares-basel-bank-capital-rules-anti-american/
September 12, 2011
Jamie Dimon Wonders If Maybe Basel Bank Capital Rules Hate America

http://motherjones.com/kevin-drum/2011/09/last-refuge-scoundrel
The Last Refuge of a Scoundrel
—By Kevin Drum
Mon Sep. 12

http://blogs.reuters.com/felix-salmon/2011/09/12/dimon-vs-vickers/
Dimon vs Vickers
Sep 12, 2011

http://en.wikipedia.org/wiki/Basel_III
http://en.wikipedia.org/wiki/Basel_Committee_on_Banking_Supervision
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gcle2003 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote gcle2003 Quote  Post ReplyReply Direct Link To This Post Posted: 13 Sep 2011 at 11:19
Originally posted by eventhorizon eventhorizon wrote:

Is Basel III really anti American, or is it the whining of American financial elite that they are not being able to put Basel III in their pocket just like they are able to with US govt. system and play around with the economic future of 98% of American voting public?
 
Is Basel III in the best interests of the US? You bet!
 
Is it in the best short term interest of the big US banks P&L accounts? You bet not!
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Never believe anything until it has been officially denied - Sir Humphrey Appleby, 1984.

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drgonzaga View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote drgonzaga Quote  Post ReplyReply Direct Link To This Post Posted: 13 Sep 2011 at 15:21
Brief, correct and to the point. Profit and Loss Accounts [and accounting] are terribly misleading and what Basel III contemplates is greater scrutiny on the basis of cash flow. As for Dimon...well it is ironic that he heads a corporation bearing the name of J. P. Morgan, who in all probability would have never offered his hand to this "spawn of speculation".Shocked
Honi soit qui mal y pense
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