Too Big to Fail
The title is a phrase used in the banking world to describe entities which are cornerstones of the financial system and there's NO WAY they can be permitted to fail.
JPM, or J.P. Morgan is too big to fail because it is one of the Member Banks of the Federal Reserve Banking System.
The Federal Reserve Bank is even MORE too big to fail as they would tend to see it.
Watch this video on YouTube: Bear Stearns, Jim Cramer, The Federal Reserve, JP Morgan
So they just decided to trade off the well-being of Bear Stearns investors (aka 'sacrificed') to prop up JPM which props up the FRB.
We never elected the Federal Reserve Bank.
FYI1: Many people and institutions are being hurt right now as the result of the financial systemic calamity. I don't like that.
But it's important to understand that why they are hurting is because the banks own us. It's why 'deregulation' always plays out as it does, to favor the banks and finaciers in the end. I have no qualms about naming Bill Clinton as part of the problem because, though perhaps strong-armed to do it, he repealed the Glass-Steagall Act which 'deregulated the banking system' and removed the barrier set up to protect Americans from the voracious appetite of the big money.
Deregulation...along the way, it may help you and me but that's a fringe benefit.
We'll continue to be fringe benefits unless the pigs have finally broken the system...And we collectively understand that to fix it the right way on the other side.
FYI2: In case you don't remember this minor point, if I recall the events correctly, after we invaded Iraq and had boots on the ground, before ANYONE else or ANY other institution went into our new colony, JPM went in to Iraq.