5/24/2012

JP Morgan losses $2 billion, Obama administration losses $66+ billion on GM, and the outrage is over JPMorgan

Here is a very typical headline: "Between Facebook and JPMorgan, Wall St. woes mount"

It was the second stumble this month by a major Wall Street firm. JPMorgan Chase, usually revered for taming risk, has yet to contain a growing $2 billion loss in one of its trading units.
The missteps are further eroding the confidence of Main Street, or what was left of it after the financial meltdown of 2008, and reinforcing the sense that the game is rigged. . . . .
By contrast, there is no massive media coverage of what Obama's $66+ billion losses at GM tell us and the Obama administration has a big campaign advertising blitz saying how great the spending was. 

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1 Comments:

Blogger Chas said...

Markie Marxist sez: "Ha! Ha! We Marxists fling government money around like it was nothing! And we get away with it! Ha! Ha!"

5/25/2012 7:34 PM  

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