Banks gave consumers âweapons of mass destructionâ by loading them up with debt, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said. âWe gave them the weapons of mass destruction to borrow too much,â Dimon told a panel at the World Economic Forum in Davos, Switzerland today. âI donât blame them, I blame the CEOs of their own businesses,â he added. Losses and writedowns from the credit crisis that started with the collapse of the subprime mortgage market in the U.S., have surpassed $1 trillion, forcing governments across the world to inject cash into banks and tighten controls on the financial industry. âTo policy makers, I say where were they? They approved Basel II that didnât work,â referring to rules governing how much capital banks hold to back their loans. âThey approved all these banks. Now theyâre beating up on everyone, saying look at all these mistakes, and weâre going to come and fix it.â http://www.bloomberg.com/apps/news?pid=20601087&sid=aw4P1eVkm3P0&refer=home WMD...so true...not in Iraq...at home