Okay...theoretically no tax payer money was lost by the company, but the last time I checked, investors in the company paid US taxes. And the reason why we can't just look at the loss as a product of a capitalist system is because there are a number of people investing in the company who don't necessarily know what their investment bank is doing on a day to day basis. Who is supposed to stand for the people who put money into a 401K every two weeks, trying to be responsible and save for retirement, when all they see is it get sucked dry because Wall Street made too risky investments?
But my main complaint is that while apparently Romney is in favor of "non-wet blanket" regulations, JP Morgan wouldn't have lost this money if Wall Street hadn't fought Congress to make a certain regulation not start until too late.
But my main complaint is that while apparently Romney is in favor of "non-wet blanket" regulations, JP Morgan wouldn't have lost this money if Wall Street hadn't fought Congress to make a certain regulation not start until too late.
No comments:
Post a Comment