Felix Salmon, finance blogger at Reuters, and Matt Taibbi, contributing editor at Rolling Stone, analyze developments relating to JPMorgan’s $2 billion trading loss with “Viewpoint” host Eliot Spitzer. Taibbi and Salmon agree JPMorgan’s risk-taking has broad implications.

“They get all of these deposits in, they’re a utility bank and it is their job and their duty in return for that implicit government backstop to take those deposits and lend them out into the economy and what do they do instead? They take the $360 billion and put it in a hedge fund in London,” Salmon says.

This entry was posted on Wednesday, May 16th, 2012 at 10:07 am and is filed under Investment Banking, Trading, Video. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.