In other words, Bernanke more or less admitted that Dimon’s concerns are well-founded. Policy-makers have not thoroughly examined the cumulative effects of all the new regulations.
At one large midtown trading floor, there were cheers as Dimon spoke.
The clip of the video instantly made its way through thousands of email in-boxes inside the biggest financial companies.
One Wall Street executive described Dimon as “Our Pericles” in an email to associates. Pericles was an Athenian general who helped lead Athens into a golden age following the devastating Persian Wars.
Others are calling it Wall Street’s “Tea Party moment”—comparing it to the speech CNBC’s Rick Santelli gave that helped spark the Tea Party movement.
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