Huh? No, they were trying to make money. So what? A customer takes a bet, and then sues if they lose on the bet? Why should JPM be held responsible for that?
First, I keep forgetting that I have to put in sarcasm warnings.
Second, it isn't just a bet. It is a government contract. There are two scoundrels in the deal, but in addition, the "beneficiary" is the taxpaying public, and it will be interesting to see how this ends up working out for JPM.