Dominant bank runs internal pricing ring

By many measures, JPMorgan had a great year. How else can you describe a record $21.8 billion in profit? In his annual letter to shareholders, bank boss Jamie Dimon could have just printed that figure in big, bold letters, given a cursory shout-out to bank employees and called it a day.

But in the end, Dimon penned a 38-page rundown (pdf) of the bank’s many successes, its competitors’ many failures, and the forces that are conspiring to stop it from making even more money in the future.

They are their own derivative industry.  JP Morgan sets the Congressional budget bounds, they work with the government insiders, computing when the light goes to far red. It is a semi-market, but it is essential, Congress won't work without it.  The bots will be replacing JPM in a short while, and we have to have the insider trading pit, Congress needs it for anonymous bidding, it will work.  There is no sense to hire JPM, at 20 billion, to do the job; I have a spreadsheet function, just get me anonymous, valid, digital traders.