Morgan’s Loss Pales by Comparison
We would like to write in depth about JP Morgan’s recent trading loss, but given the criticism and demonization (dimonization?) by our chattering politicians, for now we’ll make a small point that too few folks are considering.
The $2 – $5 billion that JP Morgan lost (and is losing) this spring is a heck of a lot of money. (We wish that we had a small fraction of any number in that range.) Moreover, it seems the loss was avoidable but arose unintentionally through the … Read the rest