Say it again with a straight face this time

[jmc_bks]

I find it hugely ironic that at the same time Matt Taibbi's article on how Wall Street killed Dodd-Frank and is strangling the Volcker rule is published, JP Morgan Chase admitted to $2 billion in losses based on derivatives hedging in its proprietary trading and subsequently lost another $14 billion in market capitalization.  Does anyone (except ego-addled Wall Street execs and their paid political flunkies) really believe that Glass-Steagal shouldn't be brought back?  Proprietary trading with ridiculous hedges while expecting tax payer bailouts is just fucking ridiculous and outrageous.

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Utterly unrelated, I posted a review of Mary Calmes' Frog over at WordPress.  Not recommended.