Re: JP Morgan threatens small depositors

On Jan 15, 2011, at 8:56 AM, Bruce Geerdes wrote:

> It already has the maximum amount of US retail bank accounts that  
> it’s allowed — which means that it can’t increase earnings by  
> becoming so attractive that more and more people flock to it.  
> Instead, it would rather increase earnings by steadily culling the  
> least profitable parts of its customer base, and replacing them with  
> richer and more profitable depositors.
>
> [...]
>
> This is pretty evil, and I hope that the government doesn’t stand  
> for it
>
> The sounds like an unforeseen side effect of regulating the number  
> of customers the bank is allowed. Do we really want the government  
> regulating the free market *more*? What's wrong with a company  
> "culling the least profitable parts"?


Yes.  But if you are going to demand taxpayer money for being too big  
to fail...then the taxpayer should be able to limit how big you get.

You can't demand no regulation and then expect the taxpayer to keep  
you from failing.  Well, I guess you can, and they do...sigh.

regards,
-Lance


-- 
dadl-ot mailing list
http://mail.thehood.us/mailman/listinfo/dadl-ot_thehood.us
http://news.gmane.org/gmane.music.dadl.ot