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
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