Wall St. On JPMorgan Loss, Americans' Huge Wealth Decline, Top Economist On Spain Bailout And More

Monday, June 11, 2012

Wall Street Couldn't Care Less About JPMorgan's Loss

It's official: Absolutely nobody on Wall Street cares about JPMorgan Chase losing $30 billion.

That is the clear message of an exhaustively reported piece by Bloomberg's Max Abelson this morning.

Last week we cowered as the Irony Gods hurled lightning bolts at the news that Alan Greenspan fully supports JPMorgan's God-given right to lose billions of dollars in unregulated derivatives while being backstopped by the U.S. taxpayer. Greenspan has lots of company.

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	Americans Suffered Legitimately Shocking Decline In Wealth During Recession
	Why More Americans Skipped The Doctor Last Year
	Joseph Stiglitz: Spain Bank Bailout 'Not Going To Work'
	Where There's CEO Bling, There's Corporate Fraud, Says Study

BLOG POSTS

	Keli Goff: What P. Diddy and Mitt Romney Have in Common The fact that the son of one of the wealthiest African-Americans in the country will be attending school on a full scholarship has rankled many. But Diddy's son is not the first wealthy offspring to be awarded a scholarship, and he is unlikely to be the last.
	Rep. Keith Ellison: After Wisconsin, a Movement to Get Money Out of Politics The Wisconsin election shows that we will not have a government of, by and for the people as long as we have politicians who are bought and paid for by special interests.
	Leo W. Gerard: China Exports Trouble to U.S. For years, China deliberately diminished the value its currency. This artificially reduces the price of Chinese exports. Simultaneously, it artificially raises the price of U.S. exports to China. Dithering by the U.S. House of Representatives on this issue has reduced America to victim status.
	Dave Lauer: Confronting High-Frequency Trading: David vs. Goliath's Evil Twin We have no shortage of great ideas for how to help dampen or eliminate the ill effects of high-frequency trading. We simply lack the will and the ability to push meaningful reform through our corporate-controlled, hyper-partisan government.
	Sam Sommers: When Good People Behave Badly The psychology of fraud shares a lot in common with the psychology underlying another of society's most pressing ills... the combover.