Mike Capuano Against Jamie Dimon JP Morgan

OK, it might not be in the NY Times, but Cong. Mass Dem Mike Capuano put it to Jamie Dimon.  We want Glass Steagall now, stupid dickhead!

At Tuesday morning's House Financial Services Committee hearing on the JP Morgan $2 billion loss, Rep. Mike Capuano (D-MA) opened his five-minutes question time with a boost for Glass-Steagall, telling all members that "everyone should sign on to HR 1489." Before that, CFTC chairman Gary Gensler, in his opening statement, had referenced "the 1933 reforms" (i.e., which still relied on Glass-Steagall) as fundamental to reducing risk in financial markets. HR 1489 is currently before the same House committee.
"Mr. Chairman," Capuano began, "first, I'd like to just point out that anybody who is interested in breaking up some of these large institutions should sign on to H.R. 1489, which would reinstitute the Glass-Steagall Act, which I voted against repealing in the first place, which was repealed by a bill called the Gramm-Leach-Bliley Act, which I recall with [were?] three Republicans who sponsored that act to repeal the Glass-Steagall that allowed the beasts of Wall Street to come into existence."
Capuano's intervention served to "cut through" the impotence of the Members' questions otherwise. In the Committee's second session, where JPMorgan Chase bankster Jamie Dimon was the witness, Rep. Nydia Velasquez demanded to know if Dimon was for or against Glass-Steagall bank separation; when he said he opposed it, Velasquez said, "I thought so." (Dimon then made a long, Geithner-like argument against Glass-Steagall.) A series of Democrat Committee Members demanded to know from Dimon why his $350 billion risk-trading operation was in London, and why "it's always in London," where the wildest unregulated speculation is going on.
Otherwise the discussion — reduced at times to the level of partisan bickering — would have focussed on nothing but the inadequacies of Dodd-Frank: whether it eliminated or codified Too Big to Fail banks; how many supervisory bodies it takes to insure that a bankster remains honest; and whether to swear-in bank witnesses.

Urgent That You get Billions of Dollars

Sometime spam acts like you were a JP Morgan Chase banker that needed to get bailed out by the government. Don't you wish it Harlem. And then the Nigeria scam, the United Nations scam, so many scams, and the biggest one is..... Facebook. Here is an example:
After much attempts to reach you on phone, I deemed it necessary and urgent to contact you via your e-mail address and to remind you about your compensation payment.
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During our last annual calculation of your banking and Internet activities, we realized that you are eligible to receive a compensation payment of $2,811,061.00 USD. This compensation is being made to all of you who have suffered losses/damages as a result of unemployment, accident or illness.
For more information, contact United Parcel Service (UPS) agent with your Name, Resident Address and your direct Telephone Number for the delivery of your cashier check ($2,811,061.00 USD).
United Parcel Service (UPS)

Harlem Bubble Blues

I got the Harlem NY, bubble blues; The Euro's crashing, two by two; JP Morgan chase, is losing the race; Got the New York bubble blues.

In 2008, governments had not yet deployed their ‘big gun’ cures for the debt crisis. So they still had the firing power to squelch the crisis with a series of unprecedented rescues. Today, we have seen the rapidly diminishing returns — or outright failure — of nearly every possible stimulus plan, bailout deal or austerity measures known to man.

Furthermore, it was also reported today from a source within the Bank of England that the BOE is prepared for the unraveling of the euro. The source noted that the Bank is prepared to “play their part in mitigating the impact” of Greece, or other countries, exiting the Eurozone.

Again, the panic is currently spreading throughout Europe, and the very nature of such a panic in today’s economy implies that the panic will spread across the Atlantic too. However, that “contagion” can either be allowed to sweep Europe and the United States bringing all the social chaos of a banking collapse, or it can be blocked by the implementation of Glass-Steagall, a firewall separating obligations to investment banks, hedge funds and the like from legitimate banking deposits and obligations.

In other words:
Bubble bubble toil and trouble.