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Protecting JP Morgan from Itself

David4 Wrote: May 18, 2012 2:54 PM

Tatro: "If Obama had any shred of honesty in him, which in my opinion is a far reach, he would have simply announced that he was taking away the bank’s keys to the candy store by shutting off the money." From their actions Team Obama is already trying to do that. If they can build a better regulatory box and put a regulator on top of it then the banker will only be allowed to make "AAA" loans to the low-income subprime rated customers of the community. Supposedly good for society, but can money be made off of it?

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Protecting JP Morgan from Itself

President Obama recently appeared on The View in order to laud Jamie Dimon as the smartest banker on earth.

Masterfully, he also convinced the ladies that if the real regulations of Dodd-Frank had been in place, J.P. Morgan’s $2 billion trading loss would have never happened.

It seemed Obama was saying the government needed to protect poor Jamie from himself. In light of J.P. Morgan’s total capital, Main Street media looked at the trading loss and said “what’s the big deal?”

I wonder if J.P. Morgan’s “London Whale” had found one more counterparty to take the martingale trade...