Quote:The trading losses suffered by JPMorgan Chase have surged in recent days, surpassing the bank’s initial $2 billion estimate by at least $1 billion, according to people with knowledge of the losseshttp://dealbook.nytimes.com/2012/05/16/j...-least-50/
Quote:Mitt Romney cautioned that J.P. Morgan’s $2 billion loss shouldn’t inspire a rush for new legislation or regulation in an interview with a conservative blogger Wednesday.http://blogs.wsj.com/washwire/2012/05/16...lses-gain/
Mr. Romney said the company and regulators should investigate the loss to understand what happened. But he pointed out the loss was borne by the shareholders and owners of J.P. Morgan, not the American taxpayers.
“That’s the way…America works,” Mr. Romney said in a radio interview with Ed Morrissey. “Some people experienced a loss in this case because of a bad decision. By the way, there was someone who made a gain, all right. The $2 billion J.P. Morgan lost someone else gained.” (The J.P. Morgan discussion starts about three minutes into the interview above.)
That feller must have his Morman
head screwed on backwards.
To paint a rosy picture of a 3 billion
loss fer a bank that taxpayers bailed
out is dumber than a box of bricks.
I keep a wonderin' when these figures
are gonna' level off.
Figures don't lie, but liars figure.