JP Morgan, one of the venerable institutional leaders on Wall St. and around the world, reports a loss of $2+ billion on some gambling practices that have gone awry. That could have just as easily been 20 billion or perhaps 200 billion. And guess who would be called upon to bail them out.
Yet, investment banking firms such as JPM are the ones that are grumbling about too much regulation. And they are getting a tremendous amount of support from the right-wing of the political spectrum. 2008 was not that long ago.
I think that these institutions should be split up. Separate the investment banking from the commercial banking operations. Then if an investment banking firm continues to make bad decisions only the company and its customers will have to pay the price.
Keep coming back!!