Of course, this is a idiotic statement and serves no purpose unless unless unless I am right in my suspicion that political advantage is the name of the game and the very reason for what appears to be nonsensical talk.
Two facts proving the insincerity of the Administration's concern over JP Morgan:
For starters, Dodd/Frank, the very controversial "book" of new regulations, has not gone into effect. Heck, it is not half written and will not be finalized until the beginning of 2014. How can the Dems say, "We need more regulations," when Dobb Frank has not been fully written? Before we decide to legislate more regulation, why not wait to see if Dodd/Frank will work after it is has been amended?
Secondly, and perhaps most importantly, all of the 2 billion in lost revenues in JP Morgan's latest "deal" is private money belonging to the bank. It is not customer money nor is there a dime's worth of taxpayer money. If there are no charges of fraud or theft, this JP Morgan deal is actually "none of our business." I am saying, "Dodd/Frank would not regulate this private money circumstance, anyway."
Third, when the likes of financial know-nothings such as Obama and Eric Holder (or Chris Dodd and Barney Frank) decide they know something about the world of finance, well, we all need to start thinking about protecting the women and children.
So, there you have it: a lot of talk and concern over matters that do not effect the rest of humanity -- just mindless chatter for the purpose of advancing a political agenda. After four years, most of us have tired of the constant blather coming from our White House. . . . . . . . time for a change.
No comments:
Post a Comment