Wall Street Saviors May Wish They Weren’t

From CNBC: “Would I have done Bear Stearns again knowing what I know today?” Jamie Dimon asked almost rhetorically last week at the Council on Foreign Relations in Washington. “It is really close. What I know today is if they called me again to do something again like that, I couldn’t do it. My board wouldn’t allow me.”..... No kidding. The bailouts during the financial crisis of 2008 may have been unpopular on Main Street, but they are turning out to be just as unpopular in certain corners of Wall Street, and perhaps for good reason…. Some of the strongest firms during the crisis that acquired failing banks at the behest of the government — JPMorgan Chase, Wells Fargo and Bank of America, among them — have found themselves in the cross hairs of lawsuits brought by the government for activities related to deals they made under pressure from the authorities........ Whether you love or hate Wall Street, whether you want bankers to go to jail or not, the recent series of suits brought by the government may have a profound impact on how businesses react to being asked to provide assistance when the next financial crisis arrives. Chances are, they won’t….................................................................................................. Wait,wait-there’s more at http://www.cnbc.com/id/49426378