PROFITS OR THE FLEECING OF THE UNWARY? J.P. Morgan Net Surges 55% - WSJ.com: "The linked article from Bloomberg:
http://www.bloomberg.com/apps/news?pid=20601109&sid=a30KHZKX1WJo&pos=10
casts another light on how these banks are making money.
One can interpret the facts as one will, but I recall Orange County, CA got involved in stuff like this and went bankrupt.
Perhaps there is too much financial engineering where the greedy (i.e. politicians who want to spend more than they have) end up being fleeced.
But, when lots of entities get fleeced, they may fight back and laws can be changed and taxes can be tailored.
Just something to ponder."
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