Mitt Romney’s campaign said JPMorgan’s huge trading losses were an unfortunate part of a free market economy.
Romney adviser Eric Fehrnstrom told NBC that, while Romney supports some financial regulation, the losses at one of the nation’s largest banks involved investors, not taxpayers, and that rules for Wall Street shouldn’t hamper investments.
“The leadership of that company will be held accountable for this trading loss, but we don’t want to punish companies,” he told NBC’s “Today” program. “There was no taxpayer money at risk. All of the losses went to investors, which is how it works in a public market.”
Photo credit: Mitt Romney speaks at the Liberty University commencement ceremony in Lynchburg, Virginia, May 12, 2012. Liberty University, founded by the late television evangelist Jerry Falwell, is a bastion for conservative Christian thought. REUTERS/Kevin Lamarque