Just Because Banks Admits Neglects and Wrong Doing, Does That Make Things Right?
BornToBeWild
2012/06/01 20:40:50
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“We will admit it, we will learn from it, we will fix it, and we will
move on,” said JP Morgan's CEO Dimon after he apologized for the 2 billion trading losses at a scheduled conference with reporters.
“The enormous loss, (actually just a drop in their bucket), JP Morgan announcement is just the latest evidence
that what banks call ‘hedges’ are often risky bets that so-called ‘too
big to fail’ banks have no business making,” said Sen. Carl Levin,
D-Mich.
Other bank stocks, including Citigroup and Bank of America, also suffered heavy losses as well.
also see: Financial Crisis Payback
move on,” said JP Morgan's CEO Dimon after he apologized for the 2 billion trading losses at a scheduled conference with reporters.
“The enormous loss, (actually just a drop in their bucket), JP Morgan announcement is just the latest evidence
that what banks call ‘hedges’ are often risky bets that so-called ‘too
big to fail’ banks have no business making,” said Sen. Carl Levin,
D-Mich.
Other bank stocks, including Citigroup and Bank of America, also suffered heavy losses as well.
also see: Financial Crisis Payback
Read More: http://www.thenewstribune.com/2012/05/11/2139684/j...
Sort By
- Theresa 2012/06/02 05:49:34NO
+1Unless they give restitution to those they hoodwinked and pay massive fines. There is no incentive to not do it again!reply - mal 2012/06/01 23:14:57NO+1Dimon is a big time criminal for starters. Look up his history.reply
- Beccy 2012/06/01 23:10:31NO+1They have already been bailed out less then 4 years ago and they are crashing again. Soon their tin cups will come out. People can't even go bankrupt in only 4 years.reply
- mustangluver 2012/06/01 23:01:16OTHER+2One might as well go play with a one armed bandit...is buying stock really gambling? I think the answer is YES! Just like in Las Vegas, the rules are set so the house wins; and you and I are not the house.reply
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NO+1Its not just the share holders suffering here! An apology doesn't make things right with Homeowners in foreclosure either!reply
- stevmackey 2012/06/01 20:42:35NO+2They have to fix the problem.reply
