Thursday, May 17, 2012

JP Morgan blows $2bn

A fine column by Robert Samuelson that makes it clear why this whole media festival is nothing but (presumably) politically motivated spin that plays off the fear and financial ignorance of many voters.

And, really, $2bn is pocket change, both at JP Morgan and inside the beltway. This whole episode is roughly the equivalent of a middle class person losing a quarter in the back seat of a taxi.

Hat tip: my grad school colleague Karl Snow

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