Those who reduce the talks at the World Economic Forum (Davos) to bloviations evidently haven’t witnessed the last two speeches by Argentina president Javier Milei, or for that matter the commentary of JP Morgan Chase CEO Jamie Dimon. In Davos last week, Dimon pithily explained how legislation in the U.S. should be crafted.
Though properly critical of President Trump’s decision to join Bernie Sanders and Elizabeth Warren in legislation meant to cap credit card interest rates at 10 percent, Dimon added a slight but crucial wrinkle to Trump, Sanders and Warren’s allegedly compassionate efforts to achieve affordability by decree. In Dimon’s words, “Force all the banks to do it in two states, Vermont and Massachusetts, and see what happens.” Yes, precisely!
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