Lucas,
It’s just amazing what these guys get away with.
Currently, Wall Street CEOs — like "too big to jail" poster boy Jamie Dimon of JPMorgan Chase — can and do sit on the Federal Reserve boards that have a key role in overseeing our country’s monetary policy.
After what they’ve done to our economy, do you trust the Big Banksters to adequately regulate themselves?
Join Public Citizen and our partners at The Other 98% in supporting legislation to end the ruse of bankers serving as their own regulators.
Senator Bernie Sanders, who introduced the legislation, calls this charade "a clear example of the fox guarding the hen house."
Huffington Post Business Editor Peter Goodman calls it something even more:
This is not the fox guarding the hen house; this is the fox guarding the hen house while selling synthetic derivatives whose value increases with every hen he gobbles up, and who burns down the hen house so he can collect on his fire insurance policy, and then gets the government to build him a new hen house at taxpayer expense. And then, after that, he still gets to guard the new hen house.
We’re teaming up with The Other 98% on a petition supporting Sen. Sanders’ legislation to prohibit financial industry executives from serving on our nation’s critical Federal Reserve boards.
If you think it might not be such a good idea to let the likes of Jamie Dimon and Lloyd Blankfein "regulate" each other, add your name to the petition now.
Seriously, enough is enough.
Onward,
Robert Weissman
President, Public Citizen