Sure, I get the hole "JPMorgan CEO Dimon is closely associated with the Democrats" story but c'mon, this is not the direction we need. If there is truly a belief that the US has too many banks, why not merge a few smaller banks instead of making a big bank too big? There never appears to be any movement on the part of the Obama economic team other than what's comfortable and good for the big players on Wall Street. This serves Wall Street well but it's less convincing for everyone else. Reuters:
The U.S. banking sector is likely to see further consolidation and JPMorgan Chase may be called on by regulators for more acquisitions, Chief Executive Jamie Dimon said on a webcast call Monday.Too many big egos by big bank CEOs on Wall Street as well.
"There are still too many banks in the United States," Dimon told Calyon Securities analyst Mike Mayo on the call.
