May 15th, 2012
03:08 PM GMT
Economics professor and former financial regulator William K. Black calls JPMorgan a "dangerous institution" which should not be allowed to exisit. But because it is a significant donor to both the U.S. Democratic and Republican parties, it has avoided reform.
He says: "It is a travesty for JPMorgan to be able to create an additional $2 billion in losses through investments that are supposed to be allowed only if they reduce losses. The government must revise the regulations and reject JPMorgan's absurd treatment of anti-hedges as hedges."
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