Daley Has $7.7 Million in JPMorgan Stock to Divest on Way to White House

“William Daley has about $7.7 million worth of JPMorgan Chase & Co. shares that he will need to divest to take over as President Barack Obama’s chief of staff, according to administration officials and regulatory filings. White House lawyers also are reviewing whether Daley will have to recuse himself from some White House discussions to avoid potential conflicts stemming from his work as vice chairman of JPMorgan and his memberships on the boards of Abbott Laboratories and Boeing Co., according to an administration official.” What was it that Mussolini said about fascism? Ah, yes, that it would best be termed corporatism, the melding of the State and the corporation. The back and forth between the financial industries and government is just fascinating. No wonder banks get billions in bail-out bucks.