JP Morgan investigation find reason to question integrity of officers. (DUH!)

No one here is old enough to remember the days when bankers were actually respecteed. i think they may have slipped below televangelists at this point. But, we still have Congress bringing up the rear.

Speaking of which, I believe that JP Morgan CEO Dimon still holds an honored position in the Obama administration, despite the drip, drip of this saga.

Seems as though his strategy is the classic one of passing the buck down to the lowest possible level, rather than having any higher ups take responsiblity.

We've seen that before--Lynndie Englund taking almost the entire fall for Abu Ghraib, April Glasbie taking the entire fall for tell Hussein that the U.S. had no interest in what he did about the border dispute between Iraq and Kuwait and so on. Thousands of examples in government and private business, but those two are the first to leap to mind on only two sips of coffee (so far).

That's why, whatever you may think of Harry Truman for things like dropping the atom bomb, starting the Korean War and starting our monetary involvement in Vietnam, ya gotta love him for asking to have this sign made for his desk in the Oval Office.



Also for his honesty and all his great quotes.




http://hosted.ap.org/dynamic/stories/U/US_JPMORGAN_CHASE_TRADING_LOSS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME

Friday news dump.