New rules could weaken the economy, Wall Street tells Congress

06/16/2011 | New York Times (tiered subscription model), The · Reuters

JPMorgan, Morgan Stanley and other major financial institutions warned Congress that new regulations could weaken financial markets and the broader economy. "The regulatory pendulum clearly has now begun to swing to a point that risks hobbling our financial system and our economic growth," Barry Zubrow, chief risk officer at JPMorgan Chase, told the House Financial Services Committee.

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New York Times (tiered subscription model), The · Reuters

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