Bloomberg breaking the story:
Jamie Diamond losing his street cred:
Reggie Middleton discussing derivatives in banking on 10/19/2010
As Warren Buffett says: "Derivatives are financial weapons of mass destruction." Will JP Morgan's misfortune present investors with a buying opportunity to pick up more conservatively run banks such as Wells Fargo, PNC or BB&T at attractive prices?
As far as who discovered JP Morgan chase. Who cares. I would like to see how all those wall street banksters in those three piece suits with their briefcases would look like with a good pick a shovel a bucket and a nice pare of pinstripes.
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