Daily commentary: On Facebook’s IPO, JPMorgan’s losses, Spain’s bank run and Greece’s exit

As always, I have a lot of links on Monday. Three or four stories have dominated the news in each market for the past week. In the US, it is about either JPMorgan Chase's escalating losses, Facebook's IPO or the general aimlessness of the market. In Europe, the dual stories are Greece and Spain. In Greece, the talk is of an imminent exit from the eurozone, while in Spain the question revolves around Spanish bank insolvency. Other news outside of the G8 has been pushed to the side.

I have given my view on all of these topics in the past but the situation is evolving. In the JPMorgan Chase trading debacle, the losses are rumoured to be as high as $6 billion already. That's a loss that could cost Jamie Dimon his job. Up until now, his position has looked unassailable. But as the losses sta...


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