Dimon, JP Morgan Chase CEO Says "Not Too Big to Fail"

The General Assembly of Occupy Phoenix favors breaking up the banks.


Phoenix, AZ -- (SBWIRE) -- 06/20/2012 -- Jamie Dimon, chief executive of JP Morgan Chase & Co, in testimony before the House Financial Services Committee stated that his bank is not too big to fail. When questioned by committee members about the many and diverse businesses of the bank world-wide, he could not satisfy questions of why a hedging position in London was better than loans to small businesses on Main Street America.

Occupy Phoenix has confirmed support for a breakup of the large banks and a return to the controls of the Glass-Steagall act. In his book OCCUPY WE THE PEOPLE DECISION TIME FOR AMERICA Victor Weintraub explains the problem. That the large banks are so intertwined that the failure of one of them would probably bring them all down. We do not want to be faced with yet another bank crisis and “Bailout”. The abuse by Wall Street during the last one is still fresh in our memories. We can not allow the banks to be in high risk speculative ventures using FDIC insured depositors money. We must break them up before it is too late.

Victor Weintraub is a noted author, economist and entrepreneur. He is the author of OCCUPY WE THE PEOPLE DECISION TIME FOR AMERICA. This book explains how our country got to where we are today. It explains how the failed economic and tax policies of the last 30 years have brought our economy to the brink of another depression. Victor Weintraub is an advocate for progressive ideas. He has been active in Occupy Phoenix from the start.

First Capitol Books is an independent publisher. It publishes a variety of works as both E books and as Paperback print books. The books are available internationally throughout the English speaking world. Read Occupy We The People Decision Time For America.

For more information see the web siteOCCUPY WE THE PEOPLE

The author, Victor Weintraub is available for interview and discussion. To schedule an interview please contact Victor Weintraub at 480 970 0990 or by Email