The Fed Sends a Frightening Letter to JPMorgan and Corporate Media Yawns

http://wallstreetonparade.com/2016/04/the-fed-sends-a-frightening-letter-to-jpmorgan-and-corporate-media-yawns/

At the top of page 11, the Federal regulators reveal that they have “identified a deficiency” in JPMorgan’s wind-down plan which if not properly addressed could “pose serious adverse effects to the financial stability of the United States.” Why didn’t JPMorgan’s Board of Directors or its legions of lawyers catch this?

It’s important to parse the phrasing of that sentence. The Federal regulators didn’t say JPMorgan could pose a threat to its shareholders or Wall Street or the markets. It said the potential threat was to “the financial stability of the United States.”