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MarketFoolery

MarketFoolery: 06.08.2011

MarketFoolery

The Motley Fool

Money, Business, Motley, Business News, Stocks, News, Investing, Market, Fool

4.71.7K Ratings

🗓️ 8 June 2011

⏱️ 14 minutes

🧾️ Download transcript

Summary

JPMorgan Chase CEO Jamie Dimon questions the Fed Chief. OPEC has trouble deciding. McDonald's disappoints. And ExxonMobil and Apple make big plans.

Transcript

Click on a timestamp to play from that location

0:00.0

It's Wednesday June 8th and this is Market Fullury. I'm Chris Ellen joining me in

0:06.9

studio today from Motley Full Asset Management Bill Barker from income

0:10.2

investor James Early and for Motley Full Hidden Gems Charlie Travers.

0:14.1

Guys, good to see you.

0:15.2

We've got news from the World of Oil.

0:19.0

We've got news from McDonald's and Apple and ExxonMobil are both building some new buildings.

0:25.2

We will get to all of those in a moment, but we are going to begin today with the Fed Chief.

0:29.9

Ben Bernanke gave his first public speech in months yesterday and said that the U.S. economic recovery

0:35.2

remains uneven and offered no new steps to stimulate growth.

0:40.1

Things got interesting during the post-speech Q&A, however, when Jamie Diamond, the CEO of

0:44.8

J.P. Morgan Chase, asked Bernanke if new banking regulations will slow the economic recovery.

0:51.8

Bill? Jamie Diamond, clearly afraid that new regs are going to slow growth?

0:57.1

Is that warranted?

0:58.1

Should he be afraid?

0:59.6

On that limited question, I think that he has a point which is that in reaction to any kind of

1:06.5

calamity and we had one in the banking sector in 2008 you find a lot of regulations, new regulations being implemented to make sure

1:15.9

that the same thing doesn't happen again, and it's not unusual for there to be more regulations that are really then are really needed.

1:25.3

And then there's a cutback on them over time.

1:27.9

But in the interim, you've got an over-regulation of the business.

1:31.5

Now Jamie Diamond's company was not one of the worst offenders.

1:35.1

So from his perspective all these regulations and the new capital requirements

1:40.4

are unnecessary for him in his opinion but he he succeeded in in

...

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