Editorial Board
Jamie Dimon Is Right About Basel, Wrong About Bank Rules: View
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Bankers don’t like the new rules that international regulators are drawing up. Jamie Dimon, chief executive officer of JPMorgan Chase & Co., has gone so far as to call them “anti-American,” suggesting that the U.S. break with global regulators and go its own way.
Dimon is absolutely right, but for the wrong reasons. The new banking rules, known as Basel III, are too weak, not too strong.