Will JP Morgan Be the Worst Impacted From Financial Reform? (JPM, GS)

Charlie Gasparino is reporting on the Fox Business Network that J.P. Morgan (NYSE: JPM) may be hit the hardest when financial reform comes. He cited key executives at Goldman Sachs (NYSE: GS), who have reportedly been telling clients and investors that, as a commercial bank, J.P. Morgan’s capital requirements will be tougher than theirs.

He noted that “If banks are forced to spin-off their derivatives businesses known as “swaps” into a separate unit, J.P. Morgan under current rules might be forced to hold more capital than Goldman Sachs.”

Fox Business Network is also reporting that “J.P. Morgan officials, all the way from lobbyists to the firm’s CEO, Jamie Dimon, have been working overtime to soften the financial regulation because of its implications for the big bank. At one point Dimon even got into a heated exchange with the U.S. Senator from New York, Kirsten Gillibrand.”

J.P. Morgan is trading higher on the session by 1.88% to $37.41.

Goldman Sachs is trading lower on the session by 1.01% to $137.28.

For more information, visit:

http://www.foxbusiness.com/story/markets/industries/finance/jpmorgan-brunt-new-financial-reform/