5 Answers

The reason why we are in this finacial mess is, because the Glass-Steagall act of 1933 was overturned in 1999 under Bill Clinton. For over 60 yrs we did not have a problem, until wall street and the Banks and Investment Institutions were deregulated. They need to reinstate the Glass-Seagall act, so this never happens again. Jp Morgan is a good example. As long as there are no regulations, this will happen over and over again. No one has been held accountable for the loss of 10 000.000. Jobs,of 4 million people loosing theire homes and causing 19 million people to live in poverty. Dishonesty and greed are ruling our country.

If you see a roach, there are lots more behind the cabinets.  Another shoe will fall.

This was theire own money. JP. Morgan is so big, that they dont know what everyone in that company is doing. It might happen again, because there are no regulations in place. They need to downsize these big companies and banks. The recession that occured in 2008 might become another reality, if we dont prosecute these people to set an example.

I can't imagine having that kind of money to lose. I guess that's why I'm  not a CPA.....