Romney re JP Morgan Losses: "Unfortunate part of a free market economy."

[kpete]

U.S. Republican presidential candidate Mitt Romney's campaign said on Tuesday JPMorgan Chase & Co's huge trading losses were an unfortunate part of a free market economy.

Romney adviser Eric Fehrnstrom told NBC that, while Romney supports some financial regulation, the losses at one of the nation's largest banks involved investors, not taxpayers, and that rules for Wall Street shouldn't hamper investments.

http://www.huffingtonpost.com/2012/05/15/mitt-romney-jpmorgan-chase_n_1517603.html

[kentuck]

1. Just like the private equity market?

That he used to rob people blind?

[gratuitous]

2. "The losses . . . involved investors, not taxpayers"

Until, of course, JPMorgan Chase does a little accounting legerdemain and hey presto! the losses are all converted from investor money to federally-insured funds.

[kentuck]

3. And take the money from pension funds and 401K's and say they lost it on credit derivatives?

We simply do not know what they are doing? All I know is that I don't trust them...

[PA Democrat]

4. Yep. The "free" market as it turns out, is a fairy tale

with a very bad ending for everyone but the Wall Street royalty.

[Cali_Democrat]

5. What about when banks fuck up so bad that they need tax payer money to be bailed?

What about that? Huh? Is that also a free market? Privatize the gains and make the losses fall onto the shoulders of taxpayers. Romney and his bankster buddies love that.

Up yours, R-Money.

[4th law of robotics]

7. It's like going to Vegas with someone elses money

and if you win . . . it's all yours. If you lose, you at least get back what you started with. And you're free to repeat this as often as you like.

Who wouldn't gamble recklessly in that scenario?

[4th law of robotics]

6. I'm fine with businesses losing billions on bad bets

that is as he says part of capitalism.

I just wish we'd let them die rather than bailing them out.

[spanone]

8. bullshit. gambling.

[cr8tvlde]

9. Jamie Dimon is a Fed Governor

...which was news to me...who grants his bank funds at near 0% interest, loans it out at god knows how much and over and over again even without the derivative and CDOs, and the bail-out prone taxpayers get near 0% on their savings accounts.

Enron redux. Not holding my breath for a Perp Walk, however.