Romney's right for once on JPMorgan

May 2012
Evening Standard;5/23/2012, p45
US Republican Presidential nominee Mitt Romney makes a, for him, rare good point on the JPMorgan trading fiasco. It shouldn't lead to new legislation, and the loss was borne by shareholders not taxpayers. "Some people experienced a loss in this case because of a bad decision. By the way, there was someone who made a gain, all right. The $2 billion JPMorgan lost someone else gained." That's true. The question remains, who? It's a question that City folk are asking with even more urgency since it emerged the bank's losses could hit $7 billion.


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