The Hill News

Last week, JP Morgan Chase announced that it had a $2 billion-plus loss on a synthetic credit security hedge as esoteric as the name would suggest.
That is the bad news. The good news?

Markets continue to function. Facebook is still planning its much anticipated IPO. Sales of existing homes were 5.3 percent higher in the first quarter than a year ago.  The world continues to spin.

Meanwhile, shares of JP Morgan are down a reasonable amount for a corporation that just lost assets equal to 0.1 percent of its total assets under management. An efficient marketplace penalizes bad news and rewards good.

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