Sandy Weill, who was instrumental in Wall Street banks becoming "too big to fail," has come out in favor of breaking up the big banks. Will one of the presidential candidates take up Weill's proposal?
When it comes to Wall Street, many of us suffer outrage fatigue and cynicism that nothing will ever be done to stop these abuses. The question is whether the unfolding Barclays scandal will provide enough energy to finally force a change.
The main regulator of derivatives (bets on bets), wants to extend Dodd-Frank regulations to the foreign branches and subsidiaries of Wall Street banks. But JPMorgan CEO Jamie Dimon would greatly prefer this not happen.
JPMorgan Chase bank chief Jamie Dimon explained his bank's $2 billion trading loss to Congress, revealing a lesson in not being complacent about risk management – a difficult task in a complex world of diffuse risks.