David Harsanyi on Why JPMorgan Proves We Don't Need More Regulation
When JPMorgan Chase & Co. suffers about $2 billion in losses, everyone in Washington seems quite excited about the political possibilities. The $2 billion hasn't sunk JPMorgan (and with $127 billion in equity, it hasn't come close), but if this kind of thing constitutes a national emergency, writes David Harsanyi, we should have better sense than to allow folks who squander $2 billion on their lunch breaks to concoct the solution.