JPMorgan’s $2 Billion Loss (Updated)(x2)

With all the crap that has gone on over the last decade – or even before that – why is this all of a sudden a big deal?

So Justice has opened a criminal investigation, something they have yet to do for MF Global, which seems a much clearer case.

This has a tempest in a teapot feel; or more cynically, perhaps they only “investigate” when they know in advance they’ll be clearing the targets.  If they’re banksters, that is.

Update:  Eric Fry at the Daily Reckoning says it better, and slightly differently, than I do.

Update 2:  A former VP at JPM appears to have a number of good questions to ask of the CEO, Mr. Dimon.  Maybe there’s more there there, after all. [h/t Lauren Lyster (twitter @LaurenLyster) of RT’s “Capital Account”.]

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