JPMorgan and the Necessity of Risk

I don’t know all the behind-the-scenes details of JPMorgan’s recent $5.8 billion (oof!) trading loss, but I know I don’t like the general tenor of reactions to it. In spite of the fact that JPMorgan is a private company, and in spite of the fact that they actually turned a profit last quarter, people are acting like JP Morgan commandos rappelled More …