JP Morgan Billion Dollar Loss could be a bigger Loss to Customers

Today one of the top stories was the billion dollar loss suffered by JP Morgan Chase Bank through one of its division.  To hear it being reported some were quick to tell us that it was the bank’s money and not depositors so we should really not be that concerned about it.  Some were saying how this could now re-open the push for stronger regulations of the big banks and even a deeper look into breaking them up.  What they have forgotten is the fear this news instills on the millions of customers of JP Morgan Chase.

The fear is that even though this was their money and did not come from their depositors, one still wonders just how they will attempt to make it up.  It was reported that even though this was a major loss, the company as a whole will still show a decent profit because of the many arms of Chase Bank.  Still those of us who may know better, will still be on the look out for an increase in services that JP Morgan adds to their customers.

For those who do not believe that this is something that may happen or think that JP Morgan would never do anything like that to them.  Need I remind you that not only did JP Morgan take bailout money and even though they paid it back, they still are not lending and refuse to lend a hand to protect their customers from this situation ever recurring again?

Now it should be known that I am by no means an expert in this field and mostly what I say is speculation but how dismissive will you be if all of sudden or in increments, fees that was normally one price are suddenly increased slightly all of a suddenly.  How dismissive would you be then of an average American who believes in the old Ronald Reagan saying “trust but verify”. 

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