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Boehner on JPMorgan: No Law Against Stupidity

Speaker, Karl Rove also slam PAC plan to attack Jeremiah Wright

By Polly Davis Doig,  Newser Staff

Posted May 20, 2012 12:06 PM CDT

(Newser) – John Boehner today took to ABC's This Week to offer his characteristically blunt assessment of JPMorgan, and promptly asserted that Dodd-Frank wouldn't have averted the bank's $3 billion blunder: "There's no law against stupidity. No law against stupid trades. As long as there's no risk of a taxpayer bailout—they should be held accountable by the market and their shareholders. And they are." Boehner also offered his take on a super PAC's scrapped plan to bash President Obama over Jeremiah Wright, calling it "nonsense (that) shouldn't happen. The election's gonna be about the economy. ... And I think Gov. Romney's prescriptions are much better." Elsewhere on your Sunday dial, as per Politico:


In this Tuesday May 15, 2012, file photo, House Speaker John Boehner speaks.
In this Tuesday May 15, 2012, file photo, House Speaker John Boehner speaks.   (AP Photo/Manuel Balce Ceneta, File)
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COMMENTS
Showing 3 of 38 comments
B-Diddy
May 22, 2012 6:30 AM CDT
Stupid is as Stupid Does Hes name is actually pronounced Boner!
saucier111
May 21, 2012 12:16 PM CDT
In the last three and a half years the replubician congress has done every thing they could think of to derail our economy. I call them traders, they took a oath, i'm not talking about Grover Norquest oath they all signed. They have lied and defrauded the American people.
Deleted
May 21, 2012 7:56 AM CDT
Following is a link to some interesting background. http://finance.yahoo.com/news/jpmorgan-cio-risk-chief-said-034412041.html It appears that JPM is somewhat of a joke on risk management.  This would never have happened at my firm, even on a much smaller scale. 
 

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