JPMorgan Chase & Co., the nation’s largest bank, announced Thursday that it had lost $2 billion in risky trades over the past six weeks. It adds fuel to the argument that Wall Street needs to be more heavily regulated.
The JPMorgan Chase $2 billion loss again shows why big banks pose a big risk – as seen in the admission of mismanagement by Jamie Dimon. The selfless purpose of a financial system in the economy must override the selfish risks of giantness in banks.
Zuccotti Park has been occupied by Wall Street protesters for the last four weeks, but in a sudden turn of events they will have to vacate the park tomorrow morning and will not be allowed to return with their sleeping bags, tarps, tables, or other gear.
Occupy Wall Street protesters Tuesday marched on the residences of some of the power brokers who they say are responsible, at least in part, for the nation's economic ills.
With debt ceiling talks showing no progress, some GOP leaders and constituencies are becoming concerned by the party's hard line in negotiations. Meanwhile, some Democrats are similarly worried about President Obama's bargaining.