Whose money did JP/MS lose?

[customerserviceguy]

7. While I believe it was their shareholders

The fact still remains that if it had been enough to fully bankrupt them, there would have been incredible pressure on the President and the Congress to bail them out. I have a feeling that the news of this is going to cause all too-big-to-fails to take a look at their own practices, because the likelihood of a bailout is probably nil at this point. I know the tea partiers won't go along with it, and I imagine there are enough truly progressive lawmakers on our side who won't either.