May 14, 2012

POLITICO: Obama’s Wall Street Problem. “The giant $2 billion trading loss at JPMorgan Chase highlights a central problem in President Barack Obama’s case for a second term: Four years after the financial crisis nearly brought the nation to its knees, very little appears to have changed. . . . And now one of the largest banks in the United States, headed by a Democrat and operating with government guarantees, has turned in the kind of headline-grabbing, casino-style style loss that drives voters crazy and that Obama’s financial reform bill was supposed to stop.” Unexpectedly.

Plus this: “The guy in the street in 2008 and 2009 was worried about his or her deposits, and now it’s clear they should still be worried.”