URL of this article: www.globalresearch.ca/index.php?context=va&aid=30859
Before we can understand what’s really going on with JP Morgan’s loss (which will probably end up being a lot
more than $2 billion), we need a little background.
In addition, JPM’s CEO Jamie Dimon:
What Does It Mean?
Pundits and consumers alike are reacting to JP Morgan’s loss like a startled herd of sheep.
They somehow believed that the “best of the breed” bank and CEO – the biggest boy on the block – was immune from losses. Especially since JPM has been so favored by the Feds, and Dimon was so favored that he was being groomed for Secretary of Treasury.
And the fact that the head cheerleader for letting banks police themselves has egg on his face is making a lot of people nervous.
And that the biggest of the too big to fails could
The government says its launching a criminal probe into JPM’s trades.