JPMorgan Chase & Co. (NYSE:JPM)
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A financial holding Company whose activities are organized into six business segments: Investment Bank, Retail Financial Services, Card Services, Commercial Banking, Treasury & Securities Services and Asset Management.
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So the FED has just announced a 2012 Stress Test for large banks in the United States. Fortunately the markets are more efficient than governments and have decided to do a 2011 Stress Test.
You can thank the boobs at the FED & Treasury, the bought Banking & Finance Committee chairs, nearly all Republicans AND Democrats for this lesson in what happens when you do not fulfill your responsibilities and stick your head in the sand.
Chase might actually be too big to bailout. The complete lack of risk controls caused by its CEO's pursuit of performance bonuses just might beach this whale.