Markets Crash as the Obamacare Tax Increase is Approved by the Liberal Court, this was the screaming headline on the so-called news from the right. The markets did take a big plunge before clawing back, but it probably had to do with it leaking out that JP Morgan’s losses aren’t $2 billion as reported. Current internal estimates put the losses at $9 billion, and there’s no guarantee that is even close to the actual size of this cash hemorrhage.
When we say “too big to fail“, that’s not what we mean exactly.