After JPMorgan reported $2 billion in losses after taking a big, risky shot with derivatives, Michael Shure asks his all-Michael Power Panel — Rolling Stone’s Michael Hastings and Byliner’s Michael Solomon — whether President Obama has been too soft on bankers.
Solomon says, “That’s a lot of money to you and me, but in fact they made $5.4 billion in the last quarter.” Hastings says, “I think it’s hard to put this one on Obama, but the bankers certainly think he’s been way too hard on them. His base thinks he could do more.”
