U.S. Sen. Bob Corker calls for hearing on JPMorgan's $2B trading loss(Let the show trials begin!)

Times Free Press ^ | May 15th | Associated Press

[ATOMIC_PUNK]

Who's kidding Who ? i think this was done Intentionally so the government can slide right in and take over everything Its already Systematically destroyed the Economy what better way to finish it of by controlling one of the biggest “Can't fail” banks all they need is one and they needed a vehicle to start the exercise rolling !

[Greg123456]

I have to disagree with you on this one. I think there’s evidence coming soon that the money went straight to Hussein’s re-election campaign.

[MonicaG]

When is the hearing or trial for California’s corrupt money-drunk $16 billion in debt (oops; including the “unexpected” $9 billion increase from what we were told prior to last week) lying thieves going to be held?! Why aren’t people in JAIL over this grift job that is causing the producers to FLEE the state and taking jobs with’em?! Moonbeam v2 (same as v1 but way less hair) is literally SHAMELESS asking (no, threatening) the remaining 17 legal, self-sufficient Californians with jobs to pay more taxes. OMG, freakin’ vampires. We can’t even get a show-trial because WAIT LOOK OBAMA SuPPORTS Gay Marriage! WOW!

What was I thinking about?

[MonicaG]

Exactly. This is just shuffling deck chairs, looking “busy” and “concerned.”

[Quickgun]

That's still funny, and represents 98% of our government☺

[abishai]

Why waste perfectly good tar and feathers?

[apoliticalone]

“If the taxpayer isn’t on the hook for their $2 billion loss why should I care? That’s between them and their customers.”

Agreed, except for the fact that taxpayers remain on the hook for the losses of investment banks. Break them up into either commercial or investment banks. There were clear simple laws on the books that worked for many decades that kept the rules simple and protected taxpayers.

We taxpayers shouldn’t have bailed out the banks. Bush, Paulsen, Obama, Geithner and Congress were hoodwinked into saving shareholders. Instead these banks should have been permitted to go bankrupt and all shareholder equity lost along with investments marked to market. The US Treasury could have guaranteed deposits and money markets. The banks then reorganized and the subsequent IPO used to reimburse taxpayers. In the end it would have been less costly and the bankers and investors who took risk would have learned.