JP Morgan’s recent $2 billion loss due to risky trading has brought the issue of Wall Street reform back into the limelight. President Obama dedicated this week’s address to the topic, asking Congress to finish what it started and finish implementing the reform plans already started.
“We found out that a big mistake at one of our biggest banks resulted in a two billion dollar loss. While that bank can handle a loss of that size, other banks may not have been able to. And without Wall Street reform, we could have found ourselves with the taxpayers once again on the hook for Wall Street’s mistakes.”