WSJ: ‘Whale’ Capsized Banks’ Rule Effort
The Wall Street Journal reported that banks are ending the year largely resigned that their activities will be constrained and monitored more closely by the government. One big reason for the change, the Journal noted, is the JPMorgan’s “London whale” losses.
The Journal said that before the news of the whale losses emerged, banks were arguing, with some success, that too-tight regulations were crimping lending during a time of slow growth.
To read the Wall Street Journal article, click here.