05/17/2012 08:15 am ET Updated Jul 17, 2012

Simon Johnson: JPMorgan Fiasco 'Awkward For The White House'


JPMorgan Chase is too big to fail. As the largest bank holding company in the United States, with assets approaching $2.5 trillion as reported under standard American accounting principles, it is inconceivable that JPMorgan Chase would be allowed to collapse now or in the near future. The damage to the American economy and to the world would be too great.

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