Why Jamie Dimon Wants to Silence Paul Volcker

It's all about control and manipulation of the monetary system of the USA. And we let these bankrupt crooks get away with it by allowing them to control our Congress. No Senator should be in office more than 2 terms (12 years) and no Congressmen/women should be in office more than 3 terms (6 years) otherwise they do too much harm to us all. VOTE OUT the INCUMBENTS in 2010.

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It is too late to regulate now. Once the mistakes are made, they will be paid for. Mistake was to inflate the money supply (as bank credit) for 50 years. It has inflated faster than GDP. Now economy is addicted to ever expanding money supply. Without it, GDP cannot increase at all. That is why government has to step in and spend huge amounts. Even that is NOT going to help. Learn why: http://www.tradingstocks.net/html/inflation_deflation_credit_bub.html

After Volcker and Sheila Bair are out the door it'll be 'gangsta paradise'.

One thing, real salary for over 1000 employees average at Chase is $93K http://www.salarylist.com/all-real-jobs-salary-at-jpmorgan-chase-co.htm while Goldman is a monopoly with good relationship with government. Manager director earn over $300K base salary http://www.salarylist.com/all-real-jobs-salary-at-goldman-sachs-co.htm Is that Goldman is becoming a bank so that they can borrow cheap from the market (basically free press from Fed), and take risky bet? Why it was bail out $1 for $1 from AIG, while they should get only $.01? Right now, government is hostage for the "manipulated" market of Wall Street. They know Fed 1. dare not increase rate as economy is weak 2. savers won't get anything as they can take the free money and gambol 3..

WELL WHO KNEW???THAT MR BILL WOULD TAKE THE LAST ROLL OF TOILET PAPER IN THE WHITE HOUSE WITH HIM IN 1999..WHO NEW THAT THE POLITICAL CORRECTNESS OF THE BILL CLINTON ADMINISTRATION WOULD GIVE US 9-11.WHO KNEW THAT THE DIRECTION SET IN 1964 UNER THE DEMOCRATS WOULD BRING US TO "TODAY"..well now you know.

There was nary a peep when Glass-Steagall was repealed. Everyone was drunk on the dot bomb bubble and thought trees can grow to the sky. No different from today really, they still think they are entitled to endless prosperity with having to work for it.

"On November 12, 1999, President Bill Clinton signed the Gramm-Leach-Bliley Act, which repealed the Depression-era separation of commercial and investment banks." There you have it Democrats. Stop blaming Bush and blame the quick talking, ugly girl screwing idiot known as Bill "touch my peepee" Clinton. The proof is right in front of you yet you refuse to see it.

The real reason why everything got so risky and dangerous in the financial world is when the "smart guys" got involved. Old fashioned ordinary investors and wall street types would never come up with derivatives and mortgage bundling. They knew profits and loss; company books and some knew some options; but when the geniusious came up with these very complicated financial instruments that can't even be explained to other financial types......we were in deep trouble.

Fannie and Freddie have been lending to lower income folks for a long time. 1999 GS repeal big contributor. Even bigger was 1997 real-estate tax reform and post 9/11 interest rate policy (historically low interest rates

Great Point, it is anti-capitalist. We need Glass-Steagall back.

Libertarians like this guy can't own up to the fact that it was their Fountainhead-loving brethren (Greenspan chief among them) and ideology that laid the groundwork for the mess we're in.

He is so right, The Gramm-Leach-Bliley Act needs to be repealed as quickly as possible and Glass-Steagall restored. He forgot to mention the Depository Institutions Deregulation and Monetary Control Act of 1980, which also need to be repealed, this is the Act where Regan brought us the S&L debacle by deregulating that part of the S&L industry that Glass-Steagall regulated. Both of these horrendous laws need to be repealed today, if not sooner.

vote out the congress 2010 is codespeak for "We want a Republican majority" dont drink the Fox News kool aid.

He is so right, The Gramm-Leach-Bliley Act needs to be repealed as quickly as possible and Glass-Steagall restored. He forgot to mention the Depository Institutions Deregulation and Monetary Control Act of 1980, which also need to be repealed, this is the Act where Regan brought us the S&L debacle by deregulating that part of the S&L industry that Glass-Steagall regulated. Both of these horrendous laws need to be repealed today, if not sooner.

Let's keep things the way they are... maybe next time the system will actually collapse and than we can make the changes.

If Gasparino is a "self-described Libertarian conservative," what's he doing working at CNBC, the most non-conservative, pro-socialism State media outlet known to man?

Glass-Steagall should be reinstated. Obama is knee deep in kleptocrats, starting with Geithner. I wonder if he knows or if he is in denial.

This is BS!! Paul Volker is working for the Federal Reserve Bank which is a private corporation in business to make money for a choosen few families. It isnt even in the Yellow Pages under Federal Government. Its in the Business section under Federal Express. look up MONEY MASTERS on the web. Look up Trilateral Commission, Biltmore Group, Federal Trade Commission,Bohemian Grove, All privately owned and operated groups. As is the Bank of England and the Bank of Scotland. Tim Geitner is told what to do by the Federal reserve families. Obama was elected by them. As well as the Presidentsd back to the 1920s or 30s. LOOK THIS UP!! WAKE UP AMERICA

Banking is an essential service in a complex modern economy. This is not to say that bankers and banks as they are currently constituted are performing this service properly. Obviously, Glass-Steagall was just common sense. Once it was repealed, the rules were re-written and all of the major players fell into line because they felt like they had to. All of this talk about nationalization is just so much obfuscation of the obvious. The banking system is already nationalized, without access to unlimited 'free' money the banks are dead men walking. Our government has gotten into bed with the moneymen and has created a frankenstein - tar baby. Neither can let go of the other and it is not a symbiotic relationship, it is parasitic. The host is the US taxpayer and the payment to be made is in the currency of massive inflation that will make paupers of us all.