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  • 2 Responses
  • Started on 13/5/12
  • Category: Economy
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Gaelin's Avatar

"Do JP Morgan's catastrophic losses finally end the argument against regulation?"

Original Opinion by Gaelin (211)

CEO Jamie Dimon now admits that he was "dead wrong" to dismiss concerns over the bank's trading practices. A man who was once the most vocal opponent of financial regulation is now trying to desperately plug the gaps opened in his bank by the very poor trading practices that regulation sought to adress. Is it not clear now that increased financial regulation isn't just beneficial, but necessary?

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Vultren's Avatar

"Put it this way..." by Vultren (244)

They wouldn't have even been able to lose $2 Billion if the free market didn't allow them to. They wouldn't be the size they are without freedom.

If they failed, the industry is still there. Others would pick them up and the free market would work the it always has and always should. You're not losing an industry, you're losing a company.

Some regulations are necessary, yes. Greedy, bad business people who wrong all should in no way get away with scamming the consumer. You can't live in a world like that...

Vultren's Avatar

"Also" by Vultren (244)

You do realize that he is a Democrat. On a TV interview after the lst, he recently came out said he questions the entire party, they're becoming anti business! I thought that was hilarious.

Also, great link in source as well.

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