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JPMorgan and Goldman: Bad Apples

The government went after the robbers, but it also imposed a host of regulations on the bankers during that era, because otherwise people would not have trusted the banks with their money. We need people to trust banks with our money, because money that is unemployed, that isn't doing anything, might as well not exist.

For every action, there is an equal and opposite reaction. The reaction to what JPMorgan Chase did in the commodities market has just started. For honest banks, the result won't be pretty.

At the time of publication, the author had no investments in companies mentioned in this article.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Dana Blankenhorn has been a business journalist since 1978, and a tech reporter since 1982. His specialty has been getting to the future ahead of the crowd, then leaving before success arrived. That meant covering the Internet in 1985, e-commerce in 1994, the Internet of Things in 2005, open source in 2005 and, since 2010, renewable energy. He has written for every medium from newspapers and magazines to Web sites, from books to blogs. He still seeks tomorrow from his Craftsman home in Atlanta.
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