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  • JP Morgan

    Critics Resort to Canned Rhetoric in Goldman Sachs Attack

    Goldman Sachs and other big banks have been accused of costing American consumers more than $5 billion over the past three years through its dealings in the obscure business of warehousing aluminum. These dealings were the subject of a Senate hearing on July 23. The rhetoric level was high, exemplified … More

    Infographic: JP Morgan Chase and the Loss in Perspective

    JP Morgan Chase’s $2 billion loss on a hedging strategy doesn’t mean that the bank is in crisis, and it certainly does not mean the government needs to step in. JP Morgan Chase is a $2.3 trillion bank with a net worth of $189 billion. While the bank’s loss represents … More

    Morning Bell: Don't Fear the Free Market

    The lingering headline on the front pages this week is that JP Morgan Chase suffered a massive loss on a hedging strategy, costing them $2 billion. That’s no small mistake, and it’s an example of how bad decisions in the free market can cost big money. But just because mistakes … More

    JPMorgan Loses $2 Billion; Still Beats Postal Service

    JPMorgan Chase’s $2 billion trading loss is top news nationwide. But over at the U.S. Postal Service (USPS), such losses are business as usual. USPS reported a typical (for it) $3.2 billion loss for the most recent quarter. Try that comparison on for size. JPMorgan Chase incurred a “whale” of … More

    JPMorgan Chase Losses: No Reason for More Regulation

    JPMorgan Chase’s announcement that it has lost $2 billion in a failed hedge strategy sent shock waves through the financial world yesterday. And in Washington, the reaction has had a political tone, with calls to accelerate adoption of the “Volcker Rule” limiting investments by banks. But policymakers should take a … More