JPMorgan Loss Shows Wall Street Needs Limits, Trumka Says

AFL-CIO President Richard Trumka said JPMorgan Chase & Co.’s $2 billion trading loss shows that left unchecked, Wall Street will lead the U.S. economy “off a cliff, just like they tried to the last time.”

“It says that financial regulation is more needed now than it ever was,” Trumka said in an interview on Bloomberg Television’s “Political Capital With Al Hunt,” airing this weekend. “The lack of Wall Street regulation is what got us to the mess that we came to, and almost totally disrupted our economy.”