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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (115370)	6/30/2012 2:02:01 PM
From: tejek	Read Replies (1) \| Respond to of 149317

WRT to Jamie Dimon, the Volcker Rule and the Frank-Dodd Act are already law. There is a decent case to be made that JPM deliberately flouted the intent of that law. Trading for your own desk is expressly prohibited for banks that are insured by the government. His firm did it anyway. Now the fact is that these guys are so well heeled, they could get a lawyer to dance around and they'd probably win a lawsuit. But I guarantee you that if Obama sicked his lawyers after Jamie Dimon to make an example of him for flouting the Frank-Dod act, it would have a chilling effect on all of the other TBTF's who are currently running derivative casinos and betting on behalf of their own accounts with the full faith and credit of the US taxpayer backing them up. If Dimon broke the law, Chase investors would be after him.............why aren't they suing him? I think your view of these situations is more moral than legal.