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JP Morgan – the best of Wall Street?

A couple of days ago, President Obama stated that JP Morgan was one of the best run financial houses on Wall Street.

I don’t know about you, but this statement makes me nervous. If the best can lose $2 billion in a trade that financial experts can’t figure out, then what are the average guys doing? Are they losing more money or betting more money on crazier financial tools?

By |2012-05-19T01:38:55-04:00May 18th, 2012|Business, Economy|Comments Off on JP Morgan – the best of Wall Street?

How does JP Morgan lose $2 billion in a single trade?

Jamie Dimon, CEO of JP Morgan Chase

The craziness of one trader at JP Morgan Chase having the power to lose $2 billion is totally blowing my mind. Didn’t we just pass laws that would reign in out-of-control risky betting by banks? This is a bank that we, the American people, insure. If it goes belly-up then we will be expected to pay the bill. That’s more risk than I can take. I suspect that is more risk than the American public can stomach. (more…)

By |2012-05-12T15:31:48-04:00May 12th, 2012|Economy|Comments Off on How does JP Morgan lose $2 billion in a single trade?

Iraqi women forced into sex trade

This is a depressing story.  Iraqi refugees are being forced into the sex trade to help pay for their families.  Some of the women girls look no more than 12 or 13.

By |2007-07-11T02:26:40-04:00July 11th, 2007|Iraq|Comments Off on Iraqi women forced into sex trade
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