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JP Morgan's 7-Billion-Dollar Surprise: Claw-Back to the Future?

Second quarter earnings reports out of the banking sector show Wells Fargo recovering nicely from the mortgage crisis still gripping other economic sectors. Meanwhile, JP Morgan Chase came out with numbers that put a dollar amount on the wrecklessness of its London hedge fund managers. That amount could pass $7 billion. Presidential candidate Mitt Romney made news with his speech at the NAACP convention. Were his words calculated to draw ire? And president Obama wants to paint a bright line between himself and Romney on renewing middle class tax cuts, but is that the same as having a vision for the future?

Banner image: Presumed Republican presidential nominee Mitt Romney addresses the 103rd NAACP Annual Convention, July 11, 2012.

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