May 14, 2012 Dylan Ratigan

Blodget: Big banks are ‘kids playing with dynamite’

JP Morgan CEO Jamie Dimon would have us all believe that his banks’ $2 billion trading loss was “just a stupid mistake.”  But our guest Henry Blodget (@hblodget), CEO and Editor-in Chief  of Business Insider, agrees that this is just the latest indication that the unreformed shadow banking system — revealed, covered up and funded by more than $30 trillion in 2008 has simply been perpetuated by the current administration.  Giant banks that were leveraged $40, $50, even $100 for every dollar they had prior to the financial crisis are bigger than they’ve ever been.  And for the past few years, bankers from JP Morgan were collecting astounding bonuses on positions that ended up blowing up.

Watch at Business Insiders’ Henry Blodget joins us on the show:

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