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Privatizing Gains and Socializing Losses

November 11th, 2009 at 03:41 am

"Repealing Glass-Steagall was 'obnoxious' and a bipartisan 'absurdity'...

The end result of the repeal was you have 'taxpayers subsidizing risk-taking' on Wall Street...

'It's the most anti-capitalist thing I've ever heard of in my life.'

...Glass-Steagall wasn't regulation, 'it was common sense'..."

Text is http://finance.yahoo.com/tech-ticker/article/369201/Why-Jamie-Dimon-Wants-to-Silence-Paul-Volcker?tickers=JPM,GS,MS,WFC,BAC,C,XLF and Link is

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