Tom Brown submits: As I told Betty Liu on Bloomberg TV the other day, Jamie Dimon is my hero!
"Has anyone bothered to study the cumulative effect of all [the new Dodd-Frank-mandated rules and regulations the Fed is heaping on the banking industry]?" Jamie asked Ben Bernanke in Atlanta yesterday, "And do you have a fear, like I do, that when we look back and look at them ... they will be a reason that it took so long that our banks, our credit, our businesses and most importantly, job creation started going again?"
A reasonable question! And coming from Jamie, one that invites a special level of candor. Bernanke's answer was astonishing. The FT reports:
Mr Bernanke replied: "I can't pretend that anybody really has ... We don't really have the quantitative tools to do that." But the Fed was trying to produce rules that "do not unnecessarily impose costs or unnecessarily
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