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Gasparino: No Effort to Break Up Big Banks

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  • Description

    FBN's Charlie Gasparino breaks down the latest on the breaking up of the big banks.

  • Duration 3:08
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Okay breaking -- -- got reaction to Jamie Dimon actually reaction from Jamie Dimon to that call to break up the banks and sandy -- earlier this week straight to Charlie Gasparino -- -- Well right it.

There he got off the ground from laughing.

-- have been diamond base lease is been telling me to tell me this for a while guys.

That didn't quote on quote size matters the diversity of of JPMorgan.

The size of it is what what gives is his strength -- I would say this and I've been talking for the last sort of two days three days about -- we on the for -- talks does that work we were first report that there is more chatter more movement.

In more in intellectual circles and even among congressional staffers talking about the notion of breaking up the big banks.

But I'll tell you as a practical matter this is this is a non story right now.

There is no nobody at the big firms are thinking to do and it even though their their stock price went up.

After somebody think they have to some comments were made -- last couple days.

I went to come congressional staffers both on the banking book on the senate side and the house side in the in financial services.

Areas no effort in congress.

Or the senate -- to break of the banks and here's some importantly.

I've inquired about what the Romney campaign feels out feels about this I've -- I've also inquire about the Obama administration.

There -- nobody in the either the -- campaign nor the Obama administration.

That wants a break up these banks right now so right now listen I was I've been the first to safety should break them up I think they're too big.

I didn't I've been out there talking about the need to break them up and now -- -- -- and that is so broad intellectual ground swell about this.

And people talk about maybe you know after the elections.

But as a practical matter right now.

This is not an issue -- -- Jamie Dimon from what I understand.

And you know I to -- and base of based in my conversation with the guy he has no reason to break EC's says is no reason to break -- the banks right now -- -- you Dennis.

-- this we have -- time for a rare don't follow up question so do you think it will matter what he thinks about it in terms of -- in congress who wants to campaign on breaking up the banks and -- if you headlines.

I don't think anybody congress want to do this here is the one fly in the ointment that both -- Jamie Dimon has to recognize over JPMorgan -- Vikram Pandit has to recognize at Citigroup.

And that Brian -- and has to recognize over Bank of America and those -- the CEOs of those respective into into those those institutions.

The market apparently likes this now we look at what at what's happened -- couple days of bank stocks.

When the chatter particularly from -- -- sandy -- the disorder creator of the supermarket bank model.

Which all those banks have huge banks that combine investment and commercial banking.

Market went up so there is a movement afoot right now among analysts -- of talking about this that this is the way to unlock shareholder value.

If that.

Doesn't change.

You know.

Right now I don't think there's an issue but you know come the new year that doesn't change.

You know I don't know how you dumb you know say your investors you know investors.

Apparently you know maybe -- question pen but looks like they're like the stuff that is tomorrow in the -- OK thanks very much Charlie got -- OK and our newsroom CX.

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