Yet Jamie Dimon knows immensely more of his business than the regulators do of theirs.

Sir, in “JPMorgan takes a salutary stumble” May 15, you hold that “Bank’s loss illustrates why its boss is wrong on regulation”. Mr. Dimon must certainly be wrong in many ways, at least I have never thought him or anyone else as infallible, but, let me assure that if it is about getting it wrong on regulations, then the regulators are the champs. 

You mention “reckless practices to reduce risk” and in this I believe we have never ever seen something as reckless as our current regulators. They allowed the banks to hold minimum capital requirements for what they from the outside considered as safer lending than other, without giving a thought to the fact that the perceptions on risks had already been cleared for by the bankers, and that this would alter the whole dynamics of the market. 

If I was a shareholder of JPMorgan I would most probably wish for Jamie Dimon to remain as its head, but, as a citizen, I have no doubt I would sack most of our current dumb regulators. 

Do we not need to reign in the too-big-to-fail? Of course we do! But there are wise ways and there are reckless dumb ways of doing that. A wise way begins by eliminating all the growth-hormones that have made them so big, like ultralow capital requirements, the dumb way is to give them a special treatment, like is now proposed under the systemic approach, and which will only result in making them bigger and more dangerous.

Jamie Dimon, would you help me save my savings, in the shadows, please?

Sir, in reference to John Gapper´s “Jamie Dimon is a whale of a hedge fund manager” May 12, I would not make such a big thing about the 2 billion dollars or so in losses sustained by JP Morgan. 

Allowing the banks to lend out to the “infallible sovereigns” against no capital at all, signifies putting all ours, and our children’s´ and our grandchildren’s’ funds, in a truly mindboggling huge hedge fund where the proprietary dealings are not made by a Jamie Dimon, but by some unknown government bureaucrats… with certainly more skewed incentives…and that I guarantee will be much more harmful for tax payers than whatever a JP Morgan can invent. 

Frankly sometimes I feel the urge of picking up the phone and calling a Mr. Dimon or someone like him, to beg him to help me save my small savings… that is as long as he agrees to do that in the shadows, as far away as possible from our current loony banks regulators.