Jamie Dimon Will Not Have His Employees' Balls Examined Every Time They Want To Make A Trade, No Matter How Bad Paul Volcker Wants It

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I understand the goal to make sure these companies don't take huge bets with their balance sheets. But market making? Just like these stores down the street, when they buy a lot of polka dot dresses, they hope they're going to sell, they're making a judgement call. They may be wrong! So protecting the system I agree with, but starting to talk about the "intent"...I tell you... for every trader, we're going to have to have a lawyer, compliance officer, a doctor to see what their testosterone levels are, and a shrink [asking them], "what's your intent?". No we're going to make markets for our clients to give them the best produtcts, the best services, the best reserach and the best prices. That's a good thing in spite of what Paul Volcker says. [FBN]

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