This is CBS, I In The World.

I'm John Batchewith, Joseph Sternberg, member of the editorial board of the Wall Street

Journal.

He's in London.

He writes political economics for the Europeans, for the United Kingdom, and also for the United

States.

So we come here to a very important letter that Jamie Diamond, the head of more JP Morgan,

the largest bank in the solar system, has issued to explain why we're not out of the

banking crisis, why it's still around us, and what is to be done, the headline in the

journal.

This wasn't the finest hour for many players, says Jamie Diamond on the banking turmoil.

JP Morgan CEO says regulations need tweaking, following the failures of Silicon Valley

Bank and signature.

Joe, if I understand this, it's a 43-page letter.

I have not read the letter.

I've read the summary provided by the Wall Street Journal.

Mr. Diamond is pointing to federal regulators, not noticing or noticing and not worrying about

the fact that banks had been encouraged, especially regional banks, such as the 16th largest

Silicon Valley Bank, to buy Treasury securities with the long coupon, that is long-term

out.

And to hold those as assets to their portfolio, the loans are giving out.

The bank is not the only one who has the money to buy the Treasury securities.

...