now we have the rumor JP Morgan could acquire Bank of America. read a bit more about that, here.
Why this can only fascinate me is that it’s Constitutionally unfeasible.
…another thought is one could argue that Bank of America currently is part of the “axis-of-evil” (I’d add Facebook to that list), and led Wall-Streets melt down in 2008.
however, if it does happen, and I don’t have any information (but, its unlikely), it signals the Federal Governments willingness to operate outside of rules that are the foundation of law. there is now, essentially, no discipline. this signals open-season on rules of policy, and the rule-book. It’s also another “bail-out”, just under another description.
but then, look what the Obamacrats did with the debt ceiling.
Jamie Dimon becomes not only the single most powerful man on the planet, but also, potentially (ironically?) emasculated because everything he does will be watched through a completely new and different lens. the meeting at the White House, and it would have occurred, must have been historic with it’s import.
pause and also consider the fact that the United States still does not have a “super bank” that can play with the big boys in the mountains of Europe (and, watch for what’s going out of Hong Kong – you did read about that first, here). and, you now have the majority of United States households financial snapshots under one lens.
could this be a precursor to imminent domain to sage the country in Obama’s twisted view?
but, now, perhaps, we have insight into the rumors I am aware of that have Dimon being names as Secretary of the Treasury.
save this post. you did learn of this, here, and first.
peace be to my Brothers and Sisters.
brian patrick cork