Fear of debt is woven deeply into our culture. We associate debt with profligate spending, waste, gambling and overall sinfulness. As we learned during the housing bubble, it's easy to get in over our heads. So naturally we assume that the same must be true for our country -- government debt must be bad. But is it?
Big banks' future legal bills just keep getting smaller all of the time. In the latest boon from the bench, JPMorgan Chase on Wednesday convinced U.S. District Judge Jed Rakoff to dismiss the vast majority of claims brought against it by Dexia, slashing JPMorgan's potential liability in the case to $5.7 million from $774 million, according to JPMorgan's lawyer.