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J.P. Morgan’s Big Black Eye and Trouble in Spain

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On today’s edition of Coffee and Markets, Brad Jackson is joined by Francis Cianfrocca to discuss the $2 Billion trading loss at J.P. Morgan, why Greece may be leaving the Euro Zone, and brewing trouble in Spanish banks.

We’re brought to you as always by Stephen Clouse and Associates. If you’d like to email us, you can do so at coffee[at]newledger.com. We hope you enjoy the show.

Related Links:

J.P. Morgan’s $2 Billion Blunder
JPM Down 9% at Open
Eurozone without Greece increasingly imaginable — outside Athens
Bankia Deal Is a Good First Step for Spain’s Banking Woes

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COMMENTS

  • blakemoney

    that JP Morgan is going to take a huge $2B hit because of the anti-business environment that this president has fostered over the last 3 years. One great thing about Bush (and there aren’t many) is that, like Romney, he understood business and capitalism, and he knew that Wall Street functions best in a self-regulating environment. I’m sure Jamie Dimon is sick to death of all the Obama lectures and public scolding about not being able to use taxpayer money to bail out banks after their investments go South. Who would want to work under that kind of nagging and all the constant haranguing about accountability? Wall Street will figure it out. The United States didn’t get to be the world’s largest economy under Socialism. It’s in everybody’s best interest to let these banks do what they do best–make money for their shareholders. Every once in a while, there will be some burps, but Wall Street will recover if politics stays out of it.

  • blakemoney

    Looks like regulators are now looking into the JP Morgan hedge fund debacle, which was led, apparently, by Ina Drew, one of the highest paid executives in the country, and a woman. Anyone wanna bet the Obamaregulators tread lightly here so as not to alienate the female vote? This should get very interesting.