Banks Worry as Breakup Talk Revived After JPMorgan Loss
Bloomberg reported that Congress’ inquiry into JPMorgan Chase’s $2 billion trading loss has reignited the question of whether a bank can grow too large and complex for its own executives to oversee.
The banking industry is taking notice that a move to cap the size of Wall Street firms is gaining traction on Capitol Hill, Bloomberg said.
Bloomberg said lawmakers acknowledge that new legislation that would transform the banking system is still far from passing, partly because of the looming November election and partly because the country is still digesting the Dodd-Frank regulatory overhaul passed less than two years ago.
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