JPMorgan is struggling to adjust to stricter trading rules, especially after the financial crisis. This bank has also reported a 6.6% drop in quarterly profits. A conference call with reporters pointed that banks are under assault. Regulations are coming in on every issue. Banks make mistakes, but try fixing them.
JP Morgan is not under assault. They are saying this because they are under scrutiny and perhaps feel threatened in their everyday business dealings. Although large banks are used to having power, what the government is doing is simply part of checks and balances that people have come to expect our system to participate in.
JP Morgan has been in the headlines for the last decade, primarily as a result of the great recession of the early 2000s and the collapse of the banking industry. Due to the abuses and lobbying efforts of JP Morgan and other Wall Street titans, the financial system in the United States has become a new form of oligarchy leaving the majority of the population having to pick up the pieces via tax breaks and government bailouts that come from tax-payer dollars. JP Morgan must have firm government regulations and investigations into their shady practices.
The leaders of the banking and financial industries here in the US sometimes really come across like spoiled brats. The fact is that they've had it so good for so long, any time any government agency attempts to institute even the most moderate and sensible of regulatory reforms, the banks cry like babies. I'm really sick of it.