Paul Volcker and His Rule
Posted on May 16, 2012
JPMorgan Chase CEO Jamie Dimon may be less concerned with the actual $2 billion his bank lost than the credence it lends to calls for tougher regulation.
Dimon is among those bankers who has objected to even the most tepid efforts to re-regulate his industry following the 2008 financial collapse.
Back in April, Paul Volcker, pictured, defended the merits of his namesake rule against Dimon’s criticism.
Chase shareholders showed their support for Dimon on Tuesday, voting to keep him as chairman of the board and endorsing a $23 million paycheck. —PZS