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Re: JP Morgan Chase Execs Vaporize $2B

Posted by AlM on Mon May 14 13:02:59 2012, in response to Re: JP Morgan Chase Execs Vaporize $2B, posted by Chris R16/R2730 on Mon May 14 12:53:38 2012.

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This is the inevitable outcome of continued bailouts. Responsible management isn't mandated when Daddy Washington is there to bail you out of the mess you make every time.

The banks currently have the upper hand. Lehman Brothers didn't get balied out and the world economy came close to collapsing. Some financial institutions are a lot larger. The US government can bail them out if they fail or take their chances with a total disaster.

That's why we need effective rules that prevent banks from taking the chances that can lead to a bailout. The alternatives that have been suggested, like breaking them up or making shareholders personally liable, are far more draconian.

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