Let's cut through the news about JP Morgan losing on a trade. It means nothing. Why do you ask?? Banks take risk all the time $2 billion on JP's balance sheet is almost a none event. People, the media and the United states congress want to have a target, they want to blame someone for the crappy job they have done managing the USA's own balance sheet. Risk is part of life and bankers are paid to take it. When banks lose on a trade the cowards in congress want to blame someone, they can't except that's the market and that the market has risk. I suggest they focus on their own failed trades and the fact that they risk our tax dollars and are never held accountable. They piss away money and trade out our future with reckless disregard for all of us.
Shame on the NEWS media as they just try to make all of us scared and sell news because it sells.
20/20 hide sight vision, only the news media and Congress has it.
read between the lines folks!!!
Todd
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