Marketwatch saw the impact of the issue through a narrow frame in an article entitled: "J.P. Morgan stock dives to two-month low." It was all about the stock price. The Wall Street Journal went a little broader. In an article called "J.P. Morgan's London Whale Drowns Bank Stocks," they saw an impact from Citigroup (C) to Bank of America (BAC) -- to all bank stocks.
But in separate article, "Risk Aversion Spikes as JPMorgan Unveils Trading Loss," The Wall Street Journal pointed only to currency markets where, they said, there will be a dawning conservatism.To The New York Times (NYT), by contrast, in an article entitled "A Shock From JPMorgan Is New Fodder for Reformers," JPMorgan's slip-up, they said, will "give supporters of tighter industry regulation a huge new piece of ammunition as they fight a last-ditch battle with the banks over new federal rules that may redefine how banks do business." Meanwhile, elsewhere in the media -- plenty of articles neglected stock prices, currency markets and regulation and instead pointed exclusively to the long-term impact on Jamie Dimon's reputation or the job standing of others at JPMorgan. So which is it? And why, in the hands of the media, why does a complex event not potentially result in a confluence of factors? Well, because that acknowledges the complexity of the world and it's harder to write. Another Wall Street Journal article, though, got at this more intricate truth with a telling line. The loss, they said, "presents a host of issues." You can say that again.
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