$2 billion loss from JP Morgan is fodder for financial reformers

Filed under: AM Roundup |

JP Morgan lost $2 billion in hedge fund trading, and would-be reformers of the nation’s financial system are saying: told you so, said the New York Times.

The Times said the loss, which was announced yesterday, could give reformers the ammunition they need to push through federal rules that change the way banks do business.

Read more at the New York Times.