FTC Should Go After JP Morgan, Not Apple

“Our future well being depends more on people like Steve Jobs who invent real products that can improve our lives, than it does on people like Jamie Dimon who invent financial products that do little other than threaten our economy. So why is the FTC nosing around Apple and not around Wall Street? Because the Federal Trade Commission Act allows the agency to stop ‘unfair methods of competition”’almost anywhere in the economy except in the financial sector. Banks are explicitly excluded. Another reason for financial reform.”

Robert Reich, former U.S. Secretary of Labor under President Bill Clinton.