” The loss came in a portfolio of the complex financial instruments known as derivatives, and in a division of JPMorgan designed to help control its exposure to risk..”
LOL!!
“The loss came in a portfolio of the complex financial instruments known as derivatives...”
What is that word Obama uses whenever something bad happens that Conservatives can see coming but he can’t? Unforeseen?
Except that doesn’t sound right - having a brain fart at the moment.
The banks get dollars at or near 0% but they have to control risk. Whole lot of plate spinning going on. I’m thinking the entire banking system is engaged in something like a fraudulent conveyance. Us Muppets pay for it on a time delay through taxation, austerity, and inflation. I know this isn’t an original idea but it just all of a sudden made sense to me.