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April 06, 2010

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kim

Hindsight is so 20/20....and now that JP Morgan is under control, let's fix it so they are protected.

Re the consumer and big banks, while big banks maybe have better products, and that is debatable, the service for the average consumer is untenable and in that sense, big banks whether they are making their shareholders rich or not, just don't work. The consumer needs a place to safely place their money, get loans, and for the bankers to work with them. Small regional banks do this better than big banks.

Big banks don't do it well at all. Unless I presume you are a multimillion dollar investor who does get royal treatment. Well keep them as your club.

The rest of us own our own money. It doesn't belong to the banks. That's the way it used to be anyway. And a bank is there to service their customer not for the customer to be of service to the bank.

Wish I could say I'd live to see the day the big banks fail and don't take the rest of us with them, on that point I will agree.

And of course regulations were supposed to be in place so who is to say the risk management system he is discussing won't get run over by special interest groups and some overy ambitous lawmaker anyway.

I'd like to see some competition created for banks. Let's have another method of managing our funds than putting them in a tradtional bank. That may actually be the one thing that will maintain the checks and balances.

Which reminds me, whatever happened to antitrust law in this country? That also prevented an institution from getting so big they could harm an entire nation. That seems to have disappeared from the map altogether, not even being brought up in any conversation....

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