EFTA Document EFTA01300433

From: Jeffrey Epstein <* evacatio mail.com> To: Jes Staley < Sent: 1/24/2010 3:01:46 PM Subject: Fwd: Fw: MONITORING PA - DARLING WARNS US OVER WAR ON WALL STREET Attachments: time_icon.gif CONFIDENTIAL ---- Forwarded messa e ----- From: < Date: Sun, Jan 24, 2010 at 9:59 AM Subject: Fw: MONITORING PA - DARLING WARNS US OVER WAR ON WALL STREET To: jeevacationRgmail.com Fyi Sent from my BlackBerry® wireless device From: "Power Peter \(COMMS\)" < Date: Sun 24 Jan 2010 14:55:16 -0000 To: m> Subject: Fw: MONITORING PA - DARLING WARNS US OVER WAR ON WALL STREET Original Message ---- From: Benger Sophie (BIS CORP) To: COMMS - Press Office Monitorinic COMMS - Press Office Operational Sent: Sun Jan 24 13:01:39 2010 Subject: MONITORING PA - DARLING WARNS US OVER WAR ON WALL S DARLING WARNS US OVER WAR ON WALL STREET HHH CITY Darling Topic CITY lttri://www.medianointoressrieUbasinesthearclt isnhonic=CITY4tnewerThan=1? Published 24 Jan 2010 - 12:22 By Holly Williams. Press Association City Staff Page I: 12:22 Chancellor Alistair Darling has sent out a warning shot to America not to go it alone with bank sector reforms. it was reported today. In an interview with The Sunday Times. Mr Darling cautioned that President Barack Obama's war on Wall Street announced last week could hann international co-ordination. SDNY_GM_00077523 Confidential Treatment Requested by JPMorgan Chase JPM-SDNY-00000650 EFTA_00187993 EFTA01300433 He called for unity among the O20 nations and also said the moves to orb banks would not have prevented the financial crisis. "If everyone does their own thing it will achieve absolutely nothing." said Mr Darling. He added: "The banks are global - they are quite capable of organising themselves in such a way that if the regime is difficult in one country. they will go to another one and that doesn't do anyone any good." The US president sent shockwaves through the banking sector on both sides of the Atlantic with last week's mmouncement of proposals to limit the activities of banks. The plans include a ban on retail banks from using their own money in investments. instead of being limited to investing their customers* fnds, and restrictions on banks' abilities to make high-risk trades. Mr Obama said he was ready for a "tight" with the sector over the reforms. which came in the middle of the US bank reporting season revealing bumper profits at many major groups. The Tories were quick to back Mr Obama and accused the UK Govenunent of becoming internationally "isolated" over the banking overhaul. However. Mr Darling today stood firm on his opposition to plain that would effectively split retail and investment banks. "You could end up dividing institutions and making them separate legal entities. but that isn't the point." he told The Sunday Times. "The point is the connectivity between them in relation to their financial transactions." He stressed that failed US investment bank Lehman Brothers did not have retail deposits. hut was allowed to go to the wall with disastrous consequences for the global financial system He said: "Equally the large-mnall thing doesn't nut - Northern Rock was very small in global tens but systemically it was quite important when it got into trouble." The UK will continue working with the US on banking overhaul plans. hut the Chancellor said he would ensure proposals did not "disadvantage London relative to the rest of the world'. But the UK has so far gone out on a limb with its one-off 30% special tax on City bonuses over (25.000. 11e move has already seen threats from banks to relocate affected staff abroad. while a number of foreign banks - including Credit Suisse and reportedly Goldman Sachs - are capping or reducing UK staff pay. US Treasury officials are understood to be arriving in London tomorrow to brief the Government on Mr Obama's radical plans. And City minister Lord Myners is said to be gathering UK and international officials to discuss solutions to the "too big to fail" issue. So hie Ben t Di .tal Infrastructure Desk I Department for Business. Innovation and Skills I I wwwbis.gov.uk clinp://www.bis.govukt> The )eparment for Bu.sine . Innovation & Skills (BIS) is building a dynamic and competitive UK economy 1w creating the conditions for business success: promoting innovation. enterprise and science: and giving everyone the skills and opportunities to succeed. To achieve this we will foster world-class universities and promote an open global economy. BIS - investing in our future. The original of this email was scanned for viruses by the Government Secure Intranet virus scanning service supplied by Cable&Wireless in partnership with MessageLabs. (CCTM Certificate Number 2009/09/0052.) On leaving the GSi this email was certified virus free. Communications via the GSi may be automatically logged, monitored and/or recorded for legal purposes. SD NY_G M_00077524 Confidential Treatment Requested by JPMorgan Chase JPM-SDNY-00000651 EFTA_00187994 EFTA01300434 *********************************************************** The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any pan thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacationagmail.com, and destroy this communication and all copies thereof, including all attachments. SDNY_GM_00077525 Confidential Treatment Requested by JPMorgan Chase JPM-SDNY-00000652 EFTA_0O187995 EFTA01300435