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JPMorgan's apparent threats to the non-banking segment of our economy sadly continue the unhealthy vitriol that makes Americans distrust our industry.
Buying a five year naked CDS is like buying life insurance on a stranger. It is not legal for individuals and should be treated similarly for companies.
The simple truth is that when American corporations pursue profit -- successfully or not -- as long as they stay within the law, they are functioning exactly as we designed them to.
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