To the Point
JP Morgan's Long Shadow
Wall Street's biggest bank lost $2B from risky trading, re-igniting the debate over financial regulation. Should JP Morgan be reigned in before another taxpayer bailout?
By Warren Olney • • 51m ListenWall Street's biggest bank has lost $2 billion from risky trading, and that's re-ignited the political firestorm over financial regulation. Should JP Morgan Chase and others be reigned in before taxpayers get left on the hook? Would that make it too difficult for American institutions to compete in the global marketplace? Also, chaos resumes in Greece amid increased talk of a Euro exit. On Reporter's Notebook, Joan of Arc was burned at the stake 600 years ago, but it took until this day in 1920 for her to be made a saint. We look back at one of history's most beloved figures.
Banner image: People walk past the JP Morgan Chase Building on Park Avenue May 15, 2012 in New York. Photo by Timothy A. Clary/AFP/Getty Images
In this episode
3 storiesChaos in Greece Resumes as Talk of Euro Exit Increases
The Greek parliament has been unable to form a new government, and new elections have been called for next month. The President of the country says so much money's been pulled from Greek banks that, "a great fear could develop into a panic." That could have consequences for the global economy.
Read the story8 minBig Banks and Presidential Politics
During the financial crisis, JP Morgan Chase got almost $400 billion in taxpayer loans to protect it from failure. It survived the financial crisis with its reputation in tact as the best managed bank on Wall Street. CEO Jamie Dimon has been a voice against increased regulation.
Read the story36 minThe Sainthood of Joan of Arc
Joan of Arc was the peasant girl whose "voices" told her to lead the French army to victory in the Hundred Years War against England. She won at Orleans and other places, but France lost the war and English Catholics tried the 19-year-old for heresy and burned her to death in 1431.
Read the story7 min
