J P Morgan Chase announces that it has lost $2 billion dollars in the past few weeks and it expects to lose $1 billion more.
Well, so much for "Lessons learned."
So much for the belief that "We don't need more regulation."
It should be obvious that bankers are not only greedy; they are stupid too.
But how can that be? Banks are a cornerstone of 'the private sector' which never gets it wrong.