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Thread: JPMorgan blasted for $2 billion loss

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    JPMorgan blasted for $2 billion loss

    WASHINGTON -- JPMorgan Chase faced intense criticism Friday for claiming that a surprise $2 billion loss by one of its trading groups was a result of a sloppy but well-intentioned strategy to manage financial risk.

    More than three years after the financial industry almost collapsed, the colossal misfire was cited as proof that big banks still did not understand the threats posed by their own speculation.
    The SEC is investigating this incident.

    Surprisingly, there are plenty of politicians who want less regulation in the banking industry. To them, I have but one question.....

    Are you guys all on drugs?

    Article is here.
    The ghost of Jack Kevorkian for President's Physician: 2016

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    Re: JPMorgan blasted for $2 billion loss

    Quote Originally Posted by danarhea View Post
    The SEC is investigating this incident.

    Surprisingly, there are plenty of politicians who want less regulation in the banking industry. To them, I have but one question.....

    Are you guys all on drugs?

    Article is here.
    I'm glad there's at least one conservative who agrees with Wall Street regulations. That's the only way to save the future financial markets in my view. The insanity has to be reigned in.
    “The people do no want virtue; but they are the dupes of pretended patriots” : Elbridge Gerry of Mass; Constitutional Convention 1787

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