Dimon has been relentless in his attempts to eviscerate the Dodd-Frank law because of its projected reintroduction of the Volcker Rule that would entail draconian restrictions on proprietary commodities and derivatives trading by banks.
"It adapts to existing storage assets, as well as future storage purchases – proprietary or commodity".
By expanding into private equity, proprietary investing, and commodity trading, O'Neal deliberately exposed Merrill to bigger risks than it had taken in the past.
With NFV, telcos — but also large enterprises that run their own networks — can move many of their networking services from expensive proprietary hardware to commodity servers.
The Fed must desist in funding the trading operations of these Mega-Bank Holding companies so that they can no longer use the Fed window to play casino with commodities that are basic to our economic well-being and Dodd-Frank needs to be overhauled to prohibit banks from all proprietary trading in commodities whether through derivative instruments or physical product.
As an aside, the recent Congressional Hearings on JPMorgan's recent trading losses, might well have been far more enlightening if questions were also posed to Dimon about JPMorgan's proprietary trading in commodities such as crude oil, copper, and the like, and exactly what does that have to do with banking?
"Most online companies don't do proprietary products; they do commodity products," said Steve Weinstein, an analyst with Pacific Crest Securities.
Digium led a wave of disruption early in the millennium with Asterisk, an open source software project that replaced over-priced proprietary PBX systems with commodity computers.
This is all happening against a backdrop of a huge fight among networks and hosted services providers for businesses' business and the ongoing move away from proprietary networking gear to commodity hardware.
That the trading of physical commodities is outside the purview of Dodd-Frank/Volcker -- a totally ludicrous and ridiculous interpretation hatched up by the mega-banks and their lobbyists to permit them to continue the profitable wave of proprietary trading in physical commodities at our expense and cost.
