Just Too Big

“Too Big to Fail” has been a standard for a number of international investment banks, including JP Morgan (JPM) for many years now.  We’ve seen that turn into “Too Big to Jail” where major violations of law result in nothing more than fines which have clearly been absorbed into the cost of doing business as they please.  But the real problem is one of consistent hubris from a company too big for anyone to understand or even manage effectively.  That’s the conclusion of the report issued by Sen Carl Levin into the “London Whale” losses at JPM’s London Office last April.

What happens when a company this large becomes so reckless that a major problem is inevitable?  We might soon find out – at terrible expense.  No matter what, their behavior is becoming a major problem that could give life to a movement that puts an end to the cozy relationship once and for all.  Assuming, of course, we aren’t already too late.

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The Good, Bad, & Ugly

Longtime readers know that one of the goals of Barataria is to report on news stories that haven’t made the mainstream nooze yet.  Today we have three that are developing into what may yet be the most important economic and political stories of 2013 – the good, the bad, and of course the ugly.

There has been a lot of good news lately on the economy, even as the rest of the world flounders a bit.  It’s that weakness that makes the potential bad news, especially as the world looks to us as a stable and safe place to park money.  But the ugly story comes out of the place we’re used to being a dim spot, the US Congress, supposedly working on an actual budget for the first time in four years.  Think their inaction could screw things up?  Oh, no – it’s what they are doing that is actually much, much worse.  So here are tomorrow’s stories as the develop today.

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