Pento is correct - blame the Fed for JP Morgan Chase's loss...

[Lukey]

Banks to being forced to reach for yield on their deposits because of the Fed's ZIRP. They end up having to invest in "sub-prime" sovereign debt and then have to write CDS's to offset the risk. Duh!

http://finance.yahoo.com/blogs/daily-ticker/blame-fed-jpmorgan-big-loss-mike-pento-155050317.html?l=1