JPMorgan's Loss Opens a Can of Worms

NEW YORK (TheStreet) -- We all know what JPMorgan(JPM) did. They lost 2 billion bucks. The issue is what JPMorgan will do: What impact will the watermelon-sized mess-up have?

Marketwatch saw the impact of the issue through a narrow frame in an article entitled: "J.P. Morgan stock dives to two-month low." It was all about the stock price. The Wall Street Journal went a little broader. In an article called "J.P. Morgan's London Whale Drowns Bank Stocks," they saw an impact from Citigroup(C) to Bank of America(BAC) -- to all bank stocks.

But in separate article, "Risk Aversion Spikes as JPMorgan Unveils Trading Loss," The Wall Street Journal pointed only to currency markets where, they said, there will be a dawning conservatism.

To The New York Times(NYT) , by contrast, in an article entitled "A Shock From JPMorgan Is New Fodder for Reformers," JPMorgan's slip-up, they said, will "give supporters of tighter industry regulation a huge new piece of ammunition as they fight a last-ditch battle with the banks over new federal rules that may redefine how banks do business."