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What do you think it and any JD -- and it is got a very good job making Jamie -- -- very very wealthy man.
I think that he has an arrogance.
And that is reflective of a lot of this Wall Street attitude.
This this sense that that they're not to blame for any of the damage that they cause to this country.
And I think that what he's what he does is that he.
Fiercely tries to protect.
That subsidy that he gets from the taxpayers that -- subsidy by being too big to fail on and he's very aggressive and he's very good at it.
So he'll say basic common sense reforms like.
Higher capital levels which is that that cushion for potential losses so that if it -- -- it was eight billion dollars its.
Jamie diamond in the shareholders a paper -- not taxpayers he'll call.
You know measures to push that may go higher on American and I think what often happens is he confuses what's best for Jamie Dimon was with -- for the United States of America and an opposite.
Well it was in this present to you classic car but was the experience they had with the we believe it'll -- in nine billion dollar hit to their balance sheet from -- -- treating problems in London.
Is an example of what we're talking about is that truly their money and this doesn't affect us taxpayers.
You can't remember what that money was that was deposits.
Deposits that a good portion of which the United States government insurers and it's just a matter of of basic.
You good government good regulation.
Good corporate governance that you don't take depositors money.
And make huge.
Horribly risky synthetic credit derivative bets like that governments it -- positive -- money.
It was -- that money walking from excess deposits as that was money that was -- to the bank.
I depositors this was all money that that that the bank was managing that had come from depositors and capitalist excess deposits.
That's my that they took -- from depositors instead of lending.
They they shipped overseas that this would turn into this giant hedge fund making huge -- and look.
You know basic -- company nine million dollars fortress balance fortress balance sheet but they also did put -- -- study indicate.
-- those losses got up to fifty billion dollars which is you know a little bit more -- -- -- we're on the way bet that the bank could eventually be taken down by that.
And let's be very very clear here.
If that happens the taxpayer's gonna come into doubt that banks a week.
-- to care you should care you you're anger comes across.
In the book and I think you can you pick up on an anger that people nationwide feel.
But don't know how to put into action Elizabeth Warren calls Jamie Dimon and other banker's bonus babies and that was on -- first battles.
That's -- TARP -- as the AIG bailout and then the bonuses.
We -- you just blown away that treasury was trying to cover for these people that point.
You know again it's very much reflective of this incredible deference that the Treasury Department had throughout the -- that I talk about.
To Wall Street and their executives there was not publicly of course publicly there -- this feigned outrage about.
These AIG bonuses that ultimately -- -- decided authorize and allow AIG to pay -- with but since it was taxpayer money.
To the small group of executives who worked at the very unit that was responsible for bringing -- actually causing us to have a 180 billion dollar -- But internally was very reflective.
Of that Wall Street ideology that was so often.
At the Treasury Department on the -- that they needed to make these payments because he's the smartest people and we he's still on no one -- these -- naturally gifted Superman.
And this was the sense -- -- kind of makes sense if you comparable -- street and you're making these huge bonuses and money did you think they're justified and necessary.
If you happen to Wall Street and -- you have a lower level position Wall Street you wanna get back and you want to get that job so you can get that giant bonus.
And that becomes the ideology becomes the echo chamber that formed original Hank Paulson -- around Tim Geithner as secretaries of the treasury.
This belief that these want these bonuses aren't necessary and warranted and my goodness the whole system would -- market we the -- don't pay them out.
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