President Obama’s passive-aggressive relationship with Big Finance, in which the president and his team alternately woo and excoriate Wall Street, may have reached a new level of audacity this week.
On Tuesday, a “law enforcement” source leaked that the Department of Justice had launched a criminal investigation into the trading loss by JPMorgan Chase that is now estimated to be near $3 billion, a bad bet that badly tarnished the reputation of the firm’s once-lionized CEO, Jamie Dimon. (The department has not officially confirmed the probe, and the bank has not commented on it).
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