The Big Take
Playing by the Rules Costs Wall Street an Extra 51 Million Hours a Year
A daunting task of sorting good from bad awaits any would-be deregulators; here's how the edicts have stacked up
To hear Jamie Dimon tell it, which he does quite often, US financial regulations are out of control.
“It has been taken to a whole new level by people who really like it and want even more of it,” Dimon, JPMorgan Chase & Co.’s chief executive, told shareholders in May. He’s called some of what regulators do “completely asinine” and labeled measures that were intended to prevent the next financial crisis “a waste of time,” occasionally tossing in diagrams of overlapping rules or an expletive for good measure.