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Why Won't Obama Get Tough on JPMorgan?

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TOO EXHAUSTED FROM HEALTH REFORM
JP Morgan is one of many banks leading the lobbying effort against consumer financial reform. So why isn't Obama pushing back? "Obama has repeatedly said he wants to see a strong consumer financial watchdog on the beat," Mother Jones notes. "But advocates for such an agency worry that the president isn't using his muscle with the corporate execs fighting him on this front—especially the ones with whom he hobnobs. One advocate says, with Dimon in mind, "Why does the president keep having a guy over for dinner that is spending millions to kill his signature reform plan? That's certainly a huge carrot, but what sticks are they using? It doesn't seem like they're focusing whatever capital they have with the industry on consumer issues.""
SOURCE:   Mother Jones

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