Title: Derivatives bet
Published: Ventura County Reporter
Date: May 24, 2012
About this cartoon: J.P. Morgan Chase bank admitted to a series of risky bets involving derivatives, losing over $2 billion. Of course, the banking industry continues to insist there is no need for any more regulation (or restoring the oversights that were relaxed under Republican administrations), since they know how to prudently manage money. The JPMC executives were all retained by their shareholders during their annual meeting, by the way.