SAN FRANCISCO CHRONICLE | JPMorgan Losses Look Familiar to Angelides

Phil Angelides, who headed the Financial Crisis Inquiry Commission calls the big banks “casinos.”

May 15, 2012 – What strikes Phil Angelides the most about the $2 billion (and counting) loss sustained by JPMorgan Chase on a big trade gone bad, is how little has changed since the financial crash of 2008.

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By Andrew S. Ross, San Francisco Chronicle