Bloomberg News

Banks Face Regulatory Clarity Threat, JPMorgan’s Frenkel Says

January 31, 2012

Jan. 26 (Bloomberg) -- The banking industry is threatened by a lack of regulatory clarity, said Jacob Frenkel, chairman of JPMorgan Chase International.

Frenkel also said there is an excessive focus on taxing the rich, while higher taxes on corporations won’t help promote employment. He spoke in a Bloomberg Television interview from the sidelines of the World Economic Forum in Davos, Switzerland.

To contact the editor responsible for this story: Keith Campbell at

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