The coverage of the JP Morgan’s 2 Billion dollar loss has been somewhat astounding considering the other losses that are not getting covered by the main stream media. So for a matter of perspective, we will take a look at JP Morgan’s loss in detail and compare these losses to government losses..
In December 2011 JP Morgan reported publicly that they had a Gross Profit $26.7 billion. Although the $2 billion loss is substantial; however, we are talking about less then a 10%. It is important to mention the percent because it is easy to get shocked by the simple dollar value without the perceptive of how much money JP Morgan has. JP Morgan reported in December 2011 that they had 261k employees. 74% of JP Morgan is owned by mutual funds which in turn are owned by individual investors. So to demonize JP Morgan is to demonize the millions of people that represe...
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