Newsflash:
About Progressive Round Table Featured News Big shot banker proves big banks are too big
Friday, 08 June 2012 02:43

Big shot banker proves big banks are too big

Written by  Jim Hightower
Photo credit: solarfeeds.com Photo credit: solarfeeds.com

In April, Jamie Dimon–the swaggering chief of JPMorgan Chase–scoffed at critics who warned that his bank's high-flying investment division was dangerously overextended and risking collapse: “A complete tempest in a teapot,” scoffed Dimon.

A month later, however, Jamie’s teapot exploded, blowing a $3 billion hole in the nation’s largest bank… and in Dimon’s reputation. Poor Jamie – why didn’t someone tell him?

They tried. As early as 2009, JPMorgan’s own internal risk managers raised concerns that this out-of-control division was pouring billions of dollars into speculative trades that were too large and too complex even to understand, much less manage. But their caution was dismissed, and Dimon himself pushed for more of these wondrous schemes. [Listen to this Commentary | Read complete article at Hightower.com]

Read 2888 times Last modified on Friday, 08 June 2012 02:48

Progressive Round Table

Progressive Round Table

Presented by Progressive Democrats of America Powered by Ethical Electric Support clean energy and independent media here: https://ethicalelectric.com/Partners/WeActRadio Subscribe to We Act Radio for more: http://www.youtube.com/subscription_center?add_user=weactradiodc If you liked this clip from We Act Radio, please do us a big favor and share it with your friends... and hit that "like" button!

Progressive Roundtable, September 2014


Progressive Roundtable, September 2014
PDA’s July Congressional Roundtable
PDA June Roundtable
PDA June Roundtable
7007 sec.
Views: 165
PDA’s Progressive Roundtable
PDA's Progressive Roundtable
4978 sec.
Views: 198

PDA In Your State

Sign the TPP Fast Track Petitions

MoveOn.org Petition - Congress Don't Renew Fast Track

Public Citizen Petition - Congress Must Reject Fast Track Authority

MoveOn.org Petition - Stop the Trans Pacific Partnership

CREDO Petition - Stop the Massive Corporate Power Grab

 

Rep. Jim McGovern at July Round Table

ERA 9/12 Senate Briefing

ERA - January 15th Round Table

The Robin Hood Tax

Robin Hood Tax: John Nichols and Keith Ellison and Michael Lighty

Why The Robin Hood Tax

Miriam Pemberton - Swords into Ploughshares

Dr. Bill on Medicare for All

Keith Ellison: Single Payer and Expanding Social Security