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November 9, 2012

Wall Street: Wake Up, Step Up or Shut Up

“For Jamie Dimon and all of Wall Street, it’s time to wake up and step up or, finally, shut up.

Wall Street and its investment banks lost on their biggest bets in a long time: defeating President Obama‘s re-election bid, defeating Elizabeth Warren in her campaign for the U.S. Senate and, most important to them, defeating financial reform.

They went all in, spending hundreds of millions of dollars directly and indirectly. They had a presidential candidate, Republican Mitt Romney, expressly vowing to repeal the Dodd Frank financial reform and Wall Street re-regulation law. All their efforts were for naught. The loss was total.”
 

… 

Read Dennis Kelleher’s full post here

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