Banker Opposed Regulation, Loses $2 Billion

"The news of JPMorgan Chase’s estimated $2 billion loss stemming from a misguided hedging strategy in the bank’s chief investment office has set off a spring-loaded schadenfreude cannon among the industry’s critics….

Since the shocking disclosure, [CEO Jamie] Dimon was flayed by industry analysts as well as media onlookers for having been a vocal opponent of the Dodd-Frank regulatory overhaul while at the same time overseeing risky trades that could hurt his bank’s earnings.” - Kevin Roose of the New York Times

Some realness:

'The enormous loss JPMorgan announced today is just the latest evidence that what banks call “hedges” are often risky bets that so-called “too big to fail” banks have no business making,” - Senator Carl Levin

  1. thunderwishes reblogged this from stfuconservatives
  2. xmasandribena reblogged this from stfuconservatives
  3. remierk reblogged this from stfuconservatives
  4. husky04 reblogged this from stfuconservatives
  5. vinylsticker reblogged this from stfuconservatives and added:
    fail.
  6. audaxjr reblogged this from californieparesse
  7. otherkin-taco reblogged this from stfuconservatives
  8. jacobjangelo reblogged this from stfuconservatives
  9. pyrae reblogged this from stfuconservatives
  10. emilypeapot reblogged this from stfuconservatives
  11. barbellsandbehaviorism reblogged this from stfuconservatives and added:
    Yeah, let’s regulate that shit.
  12. ivangelion reblogged this from stfuconservatives
  13. nettoazure reblogged this from stfuconservatives
  14. kaiamar reblogged this from liberalsarecool
  15. californieparesse reblogged this from stfuconservatives
  16. mmmm-brains reblogged this from stfuconservatives
  17. terenceinmonochrome reblogged this from stfuconservatives
  18. stfupenguins reblogged this from stfuconservatives and added:
    Guess it’s time to socialize them losses…
  19. deadhorseonamysterybag reblogged this from stfuconservatives
  20. arcadiasilver reblogged this from stfuconservatives
  21. stfuconservatives reblogged this from liberalsarecool and added:
    That’s some sweet unregulated finance sector you’ve got there. -Joe
  22. liberalsarecool posted this
Truth. Politics. Vice. Humor. Yankee pinstripes by birth. Philosophical INFP. NYC.
I'm Douglas Vicenzi.

Ask a liberal? [Click]
E-mail me: liberalsarecool
@gmail.com



   





twitter.com/LiberalsAreCool

view archive



Ask me anything

Send Me Something Cool