So what does it look like when a victim of congressional bloviating refuses to take it laying down? Glassman shows the way. Read this article and then read the original memo at the link.
4 ways Congress caused the financial crisis | Analysis & Opinion |
May 5, 2010 11:08 EDT
2008 financial crisis | financial regulatory reform
That bankers disdain their new Washington overlords is no surprise. To many of them, Congress is plagued by “unnerving ignorance” and a refusal to admit its own role in the financial crisis. At least that is how a controversial JPMorgan report puts it. Impolitic perhaps, but not inaccurate.
It’s one thing to discuss such grumbles in the executive suite. It’s another to explicitly lay them out in a widely disseminated research report, accompanied by data and a full-color chart for emphasis — in the midst of the delicate financial reform debate in the U.S. Senate, to boot. But that’s what JPMorgan’s James Glassman did in a May 3 economic note.
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