it doesn t look like jpmorgan will need bailout. what they just did is the kind of thing that did trigger the system collapse and the need for bailout. the particular bank has been arguing since the financial collapse that there don t need to be any rules. there don t need to be anymore burdensome rules to stop us banks from doing this. there s no need for rules. we re fine. we can take care of it ourselves. it is fine until you can t take care of it and the taxpayers do. from the taxpayers perspective, if we re going to be the ones that will have to come to the rescue, then you sort of have to be constrained in way that will require rescuing. wall street, of course, would still prefer there be no rules at all. they get rescued all the time by us no matter what they do. they are supporting mitt romney
there are no straight lines. only the twists and turns of an unpredictable industry. so the eighty-thousand employees at delta. must anticipate the unexpected. and never let the rules overrule common sense. this is how we tame the unwieldiness of air travel, until it s not just lines you see. it s the world. that s good morning, veggie style. hmmm. for half the calories plus veggie nutrition. could ve had a v8. and now, now, we re going to have a fight over women s health. give me a break. the republican strategy so far for dealing with that party s problem with women, the problem, for example, of the party s presidential nominee
still prefer that there be no rules at all. they get rescued all the time by us no matter what they do. and so for this election they are supporting mitt romney against barack obama. and a tiny little step down the ticket it means they are throwing their money hand over fist at one particular united states senator. a senator from massachusetts. the man who holds what used to be ted kennedy s senate seat. scott brown of massachusetts has taken more money than any other senator from the securities and investments sector, he has taken more money than any other senator from the venture capital sector. he s taken more money than any other senator from the private equity and investment firms. he s taken more money from the hedge fund industry. hold on. this guy isn t even from new york. nope. wall street has a guy on the inside. his name is scott brown. he s running for office in massachusetts. in the first quarter of this year, the city of which he received more itemized donations than any
lobbyists, to weaken the rules and go light and describe to the regulators that they intended less and less regulation and to say, you ve got to do less. let s create this little technical part over here and another loophole. let s delay implementation. in a sense the banks have continue e continued, these largest financial institutions have continued a business as usual. they will decide how much risk ty take on. they will continue to take the profit off the top and they will continue to leave the risks out there for the american taxpayer while they fight off any regulation off to the side. so far, it s worked pretty well for them. the problem now is that jpmorgan has had to admit that, wow, it
you remember his specific contribution. they thought there was going to be $19 billion in implementation costs in rules. who should pay for it after it nearly destroyed the american economy? who should pay for that? it s going to be paid for by the banking sector. scott brown amended the bill so the banks would not have to pay the costs. you would. taxpayers would have to pay them. 19 billion. that alone probably worth wall streets investment in u.s. senator scott brown. more importantly, scott brown is the only thing standing between elizabeth warren and the united states senate. elizabeth warren is the founder of the consumer protection bureau. he s the democratic party against scott brown and she s making news today by saying the head of jpmorgan chase should step down on the board of new york fed where his job is to