Sometimes, People Invest and Lose Money

$2 billion is a lot of money.  Enough to get the regulator’s juices pumping.  Treasury Secretary Timothy Geithner says the J.P. Morgan $2 billion trading loss is evidence of the need for more regulation of banks and the financial sector.  Jonathan Macey, writing in the Wall Street Journal, and Peter J. Wallison, writing in USA Today, both argue that the Treasury Secretary of a long of other people are over-reacting.  Sometimes people invest and suffer losses.  That is the nature of business and investment.  As Macey says, “losing money isn’t a crime.”

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