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Monday, July 18, 2011

Pay No Attention to the Banker behind the Curtain

U.S. Treasury Secretary, Tim Geithner, said he is not concerned about dire warnings from Jamie Dimon, CEO of JP Morgan Chase, one of the $1 trillion plus banks whose very existence proffers systemic risk. Dimon exclaimed that U.S. Government regulation may be suffocating the economic recovery. While it is nice of Jamie Dimon to be so civic-minded as to want to protect the recovery, his real objective was to increase his bank’s profitability. His ulterior motive was not in line with the economy over all, much less with society and the common good.



The full essay is at Institutional Conflicts of Interest, available in print and as an ebook at Amazon.