Former Secretary of Labor, Robert Reich defends Apple

Apple isn’t the problem, says Bill Clinton’s Secretary of Labor. Big banks are the problem.

“Why is the Federal Trade Commission threatening Apple with a possible lawsuit for abusing its economic power, but not even raising an eyebrow about the huge and growing economic (and political) muscle of JP Morgan Chase or any of the other four remaining giant banks on Wall Street?” asks Clinton’s former advisor.

“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 [Chase CEO] Jamie Dimon who invent financial products that do little other than threaten our economy.”

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