Friday, May 11, 2012

JP Morgan's $2 Billion Tumble Renews Call: 'Break Up the Big Banks' | Common Dreams

JP Morgan's $2 Billion Tumble Renews Call: 'Break Up the Big Banks' | Common Dreams
"Wall Street titan JPMorgan Chase on Thursday admitted that poorly positioned trades cost the bank $2 billion in losses. The news sent stocks of other big banks tumbling and raised the alarm once again over the tenuous nature of the financial system and the role of 'too big to fail' banks in the world economy."