Many of the CEOs, whose institutions helped cause create the worst financial crisis since the Great Depression, said the regulation of the financial system needs major reforms.
“We understand that the old model no longer works and the old rules no longer apply,” Pandit said.
Dimon said he supports modernizing the financial regulatory system with the creation of a systemic risk regulator. “Everyone agrees that this needs to be done — and done right away,” he said.
Sigh. And so they marched in, looked up, and said, “Hey, these shower heads don’t have any holes in them….”
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I care not for their weasel words. Once they receive the funds they are part of the whole. Ask anyone that has been a victim of
legalized theftasset forfeiture laws.Money is fungible.