Weird’s Deep Thoughts (Friday Edition): Guess Who Will Almost Certainly Play Role In Next Crisis

Forget about the Vampire Squid. Keep your eye on the Great White Whale.  JPMorgan, that is, which is not nearly as vilified as Goldman Sachs, but if HuffPo is to be believed, is bigger and potentially far more important to the global economy than the Vampire Squid.  With its size, reach and critical role in the still-thriving shadow banking system, JPMorgan will almost certainly play some role in the next financial crisis, whenever it happens.

JPMorgan is now the country's biggest commercial bank by assets, with nearly $2.3 trillion, a number that has increased since the financial crisis. It is also now the biggest investment bank in the entire world, Reuters reported on Thursday, citing a report by a research group called Coalition. Second on the list? The first loser, in other words? Goldman Sachs.

Along with Wells Fargo, the biggest U.S. bank by market valuation, JPMorgan is due on to kick off a slew of first-quarter bank earnings reports. Bank profits are shrinking, with lending slow to recover from the recession and trading volume in stocks and bonds depressed. JPMorgan's earnings are expected to fall to $1.16 a share from $1.28 a share a year ago,….

Wait...wait..there's more at http://www.huffingtonpost.com/2012/04/12/jpmorgan-chase-the-great-white-whale_n_1421323.html?ref=business