Power, Power, Power
The industry should enlist the help of its largest customers to make the case that big US companies need big US banks. Imagine the impact of having the CEOs of Boeing or Cisco testifying next to a couple of large financial firm CEOs. The timing is ripe. The Obama administration has adopted a more open attitude toward big business with the president hiring former JPM executive Bill Daley as his chief of staff and selecting GE chief Jeff Immelt to advise him on job creation. . . . Doors in Washington are opening. Bankers should capitalize on the opportunity.
Thank goodness some things in America never change! Best wishes to Prof. Elizabeth Warren and anybody else in Washington trying to help anyone other than those who can help themselves.
Hat Tip: Lynn Turner