Schneiderman: J.P. Morgan’s $2 Billion Loss Shows Need for ‘Substantial Re-Regulation’

eric schneiderman msnbc Schneiderman: J.P. Morgans $2 Billion Loss Shows Need for Substantial Re Regulation
Eric Schneiderman (Photo: MSNBC)

Today’s sudden revelation that J.P. Morgan lost $2 billion†had a lot of mouths hanging open, and while the detail’s of the company’s wagers gone wrong aren’t all present, Attorney General Eric Schneiderman argued on MSNBC that the case demonstrates the need of strengthening financial regulations.

“People talk about principles,” Mr. Schneiderman said. “There’s one principle: Unregulated markets always crash. Unregulated markets always produce massive losses on risky bets.”

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