Exact(5)
An insured customer will not pay more than $4, no matter what the co-payment is, the company said.
Glass-Steagall also created the Federal Deposit Insurance Corporation, which insured customer deposits for the first time, and outlawed branch banking by national banks, among other things.
The Volcker Rule attempts to remedy this by prohibiting banks with federally insured customer deposits from blowing all their money speculating on Slovakian government bonds.
The issue is whether there should be a law that banks with federally insured customer deposits should be prohibited from rolling the dice on risky, unregulated credit derivatives, to possibly lose a great deal of money.
On the Volcker Rule, which -- if it is ever actually put in place in any real way -- would prohibit banks with federally insured customer deposits from being able to blow billions of dollars on stupid market gambles, Dimon warned that regulators should be very careful not to "throw the baby out with the bathwater".
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The hope in Washington, of course, is that an influx of tens of millions of newly insured customers will lure insurance companies to enter new markets.
They stand to gain tens of millions of newly insured customers who will be able to buy medicines.
Uninsured customers often pay twice as much for prescription drugs as do insured customers or people enrolled in discount plans sponsored by groups like AARP.
The drug industry overall had pledged to give $90 billion over 10 years toward the cost of the overhaul in return for gaining more than 30 million newly insured customers.
After all, in return for the prospect of tens of millions of newly insured customers and a large degree of regulatory certainty, the pharmaceutical industry had agreed to pay a relatively small price: $8 billion a year in discounts and fees.
The industry, by supporting President Obama's health care overhaul, capped its contribution at $90 billion over 10 years in return for the promise of up to 32 million newly insured customers starting in 2014.
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