Posted Wednesday, May 16, 2012, at 3:18 PM
February 13: JP Morgan & Chase send a letter to the Federal Reserve, making a plaintive case against the pending Volcker rule: "so flawed that it will be impossible to implement in a way that does not impose unacceptable costs on our economy and financial system."
March 6: JP Morgan & Chase CEO Jamie Dimon gets a private meeting with Treasury Sec. Tim Geithner.
Well, that's changed a little bit in the last week. In yesterday's offering of Geithnerian word salad, we heard very little about the Volcker rule specifically, but we heard plenty about how JP Morgan's screw-ups made the administration's case for them.