This should remind us that the banking system is broken and Dodd-Frank didn’t fix it. Under Dodd-Frank, for example, a bank can make loans 25x the amount of its equity. Even in a loose fractional-reserve world, this should be more like 2x.
11:55 am on May 11, 2012
Big Trading Loss at JP Morgan Chase
https://www.lewrockwell.com/lrc-blog/big-trading-loss-at-jp-morgan-chase/
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