Too Big to Fail and a Really Poor Investment

My perspective is both Economic and Political.  When Jamie Dimon says "Banks are under Assault" what he really means is that his all encompassing bank, J P Morgan Chase, is a giant sloth that can't get out of its own way.  Chase is a dull utility doing a good job of delivering bank services to the masses but with little profit opportunity.  J P Morgan investment bank on the other hand has had its bright lights picked off by private equity firms so that it is incapable of generating a decent return. All together it is a lousy investment that is begging for the return of Glass-Steagall where banks were split into commercial and investment banks. Commercial banks were regulated and insured while the investment banks were less regulated and not insured.  Investment banks can be less regulated because their customers are well educated in finance and should understand a good or bad deal without need of Elizabeth Warren.  That Jamie wants to protect his empire is understandable but it does not make his assault charge credible.