They're still doing it….

According to The Financial Times:

The bankers at JPMorgan have created a time bomb.

Last week you probably heard about the JPMorgan investment unit that racked up—so far—more than $2 billion in risky derivatives trading losses.

Well, it seems that the folks in that cubicle have put JPMorgan's money into more than $100 billion of European mortgage-backed bonds, collateralized loan obligations and other complex high risk debt securities…

I know, I know, it's hard to write these words because so few people understand what they really mean, including me, but the point is: these are the same complex, risky bonds and other financial instruments that blew up in the nationwide financial crisis in 2008…and JPMorgan's $100 billion stake dominates the market, in other words, there's really nobody they can sell it to in the short run….

In other words, the folks who brought us the mortgage meltdown and the financial failures and the Great Recession are still doing it, and still getting away with it…

And, a correction, they haven't been using "JPMorgan's money," they've been using "JPMorgan stockholders' money"….

Here's the full story from The Financial Times