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Our friends at Street Account hit us with this today, "JPMorgan Chase has closed its proprietary trading desk" -- Financial News ...

This is great news for the US financial industry. The compromised, conflicted, and constrained "Berlin Walls" of "Investment Banking Inc." continue to fall, one by one.

Running a prop desk on the other side of your client businesses just won't make sense to anyone with a pulse and a ‘You Tube’. The transparency and accountability pants are going to finally be worn in this business. Today, is another great day for the “New Reality” of American Capitalism.

KM