In response to:

Protecting JP Morgan from Itself

Eljay58 Wrote: May 18, 2012 2:56 PM
Gentlemen: 1>While the loss is tragic, it is on the shareholders only. 2>The Company reported 1Q12 net income of $5.383 Billion. 3>It is not our money they are playing with; they have $181 Billion in equity 4>They had litigation expenses of $2.7 Billion. and no one mentioned that was tragic; not even shareholders. This is only a diversion so that the sheep don't see the $4 billion a DAY, in US government borrowings, that they will have the obligation to repay. Scratch that: the 50% who pay taxes will have the obligation to repay.

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...