banks could not be placed in “double jeopardy” & needed an appropriate release from legal liability

[The Straight Story]

JPMorgan chief says bank rules ‘anti-US’

New international bank capital rules are “anti-American” and the US should consider pulling out of the Basel group of global regulators, Jamie Dimon, chief executive of JPMorgan Chase, has said.

In an interview with the Financial Times, Mr Dimon said he was supportive of forcing banks to have more capital but argued that moves to impose an additional charge on the largest global banks went too far, particularly for American banks.

....

US banks are struggling to deal with new regulations and litigation, both stemming from the financial crisis. Mr Dimon said it could be “three to 10 years” before the industry emerged from lawsuits brought by investors looking for compensation for the losses incurred on structured products underpinned by bad mortgages.

He said he was ready to agree a settlement over lax servicing and foreclosure standards that is expected to see the industry pay $20bn in penalties. But he said banks could not be placed in “double jeopardy” and needed an appropriate release from legal liability.

http://www.ft.com/intl/cms/s/0/905aeb88-dc50-11e0-8654-00144feabdc0.html

[xchrom]

1. Fuck 'em. Side ways. Nt

[Angry Dragon]

2. It is time to break them up so they are not so ready to

put themselves in danger of bad policy
The people have to trim them back to save them from themselves
The people would be doing the banks a favor
The banks have to be torn down to save them

[izquierdista]

3. All right, fine

Considering they are a continuing criminal enterprise, new charges can always be filed, that's what RICO is for.

[aquart]

4. They deserve jail sentences, not protection.

Cough up the bonuses and pay the fine.

Any chance Europe will seize their assets?