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Dimon in the Rough: How Wall Street Aims to Keep U.S. Regulators Out of Its Global Betting Parlor

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"Operations can be moved globally and capital can be accessed globally," he warned.

Someone should remind Dimon and Blankfein that a few years ago they and their colleagues on the Street almost eviscerated the American economy, and that of much of the rest of the world. The Street's antics required a giant taxpayer-funded bailout. Most Americans are still living with the results, as are millions of Europeans.

Wall Street can't have it both ways -- too big to fail, and also able to make wild bets anywhere around the world.   

If Wall Street banks demand a free rein overseas, the least we should demand is they be broken up here.

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http://robertreich.org/

Robert Reich, former U.S. Secretary of Labor and Professor of Public Policy at the University of California at Berkeley, has a new film, "Inequality for All," to be released September 27. He blogs at www.robertreich.org.

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The Professor concludes: These huge banks must be... by Berry Lee on Thursday, Jun 21, 2012 at 9:21:22 AM