So JP Morgan loses $2billion dollars, will it need a bail out?

[Goodnight]

Originally Posted by ted08721

Presidential candidate speaks out

Citing JP Morgan fiasco, Stein says Obama has failed to regulate Wall Street - Jill Stein for President

You are correct we need to regulate the financial industry more, not less. There was resistance from some that we were over regulated, need to let wall street have a free hand.

[Goodnight]

"Here’s what the presumptive Republican presidential nominee said about JPMorgan’s $2 billion loss (which may actually have been $3 billion, or $5 billion, or more, but who’s counting?): “This was a loss to shareholders and owners of JPMorgan and that’s the way America works. Some people experienced a loss in this case because of a bad decision. By the way, there was someone who made a gain.”



http://www.nytimes.com/2012/05/21/op...rssnyt&emc=rss

[CDusr]

Originally Posted by Goodnight

You are correct we need to regulate the financial industry more, not less. There was resistance from some that we were over regulated, need to let wall street have a free hand.

I dislike the paradigm of "less" or "more".
What we need is proper regulation and transparency. What goes on in the "shadows", is one of the big issues here.

[CDusr]

Looks like this could be much bigger if one addresses IR Swaps. Eventually, seems the whole derivative house of cards would come down at some point. Guess we will see.

U.S. Treasury Bond Teetering Tower Of Babel, Fed Stuck At 0 ...
quote:
the Jackass pointed a finger at the USTreasury Bond tower, the Interest Rate Swap support mechanism, and offered an argument that the losses for JPMorgan were closer to $18 billion. Furthermore, an argument was made that the losses would top $100 billion in a year's time.