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Risky Business on Wall Street

May 16, 2012 10:11 am ET
JP Morgan's enormous $2 billion-plus loss due to "poorly monitored" trades -- which were in the same kind of investment products that helped crash the economy and allowed by loopholes JP Morgan fought for -- demonstrates exactly why we need stronger rules to curb this kind of recklessness on Wall Street.

CORE MESSAGE

We need strong laws to protect Wall Street from itself -- and all of us from Wall Street.

Connect: It's no wonder Americans don't trust Wall Street.

Remind: We learned the hard way that when big banks gamble, we all pay the price. Wall Street recklessness and greed crashed our economy, putting millions of families out of work.

Define: JP Morgan's $2 billion loss on a bad bet shows us that Wall Street banks refuse to learn and can't be trusted to regulate themselves.

Explain: They invented new ways to recklessly gamble that put our economy at risk and lobbied for loopholes that let them to get away with it. Now they're trying to weaken our laws even more.

Warn: We can't just trust them, leave them alone and expect everything to be fine. Letting Wall Street lobbyists write their own rules is how we got into this mess.

Offer solutions: We need strong laws to protect Wall Street from itself -- and all of us from Wall Street.


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ATTACKS AND RESPONSES

ATTACK: "The JP Morgan fiasco is proof that we need less financial regulation."
RESPONSE:

  • Of course this is what the Wall Street lobbyists and the politicians they bankroll would say. They want us to just trust the big banks, leave them alone, and expect everything to be fine.
  • But letting Wall Street lobbyists write their own rules is how we got into this mess and allowed the big banks to cost Americans millions of jobs. We won't let them take us down that road again.
  • We need strong laws to protect Wall Street from itself -- and all of us from Wall Street. 

WHAT YOU NEED TO KNOW


We develop messaging by aggregating, analyzing and distilling polling, tested messaging, and expert recommendations, and monitoring the media to identify what is and isn't working.
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Posted in - Economy - Wall Street Reform - Jobs

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