GOP Financial Services Committee Chairman Defends JP Morgan, Derides Regulation

GOP Financial Services Committee Chairman Defends JP Morgan, Derides Regulation: House Republicans, in the wake of JP Morgan’s now $3 billion trading mess, have temporarily backed off their zeal to repeal the Dodd-Frank financial reform law. However, House Financial Services Committee Chairman Spencer Bachus (R-AL) — who believes Washington’s role is to “serve the banks” — has JP Morgan’s back, excusing its actions and attacking [...]/p