The J.P. Morgan CEO — who has gone on the record before with a greater concern for his motherland than for his employer — is fed up with the Basel Regulatory Commission, which will require big banks to have a larger percentage of their holdings in the form of “tier one,” risk-absorbent capital. “I’m very close to thinking the United States shouldn’t be in Basel any more,” he said. “I would not have agreed to rules that are blatantly anti-American.” That extra 2.5 percent capital-holdings requirement just smacks of prejudice against our freedoms, our very way of life, you see. [FT via Daily Beast]
