JP Morgan Bank: Jobless Benefits Causing More Joblessness

An economic analyst for JP Morgan Bank by the name of Michael Feroli, has released an analysis that concludes that unemployment benefits are causing more and longer unemployment.

JP Morgan Bank is the actual inventor of the “credit derivative.” Through its own greed, incompetence and arrogance, this particular institution played a significant role in creating the credit crisis that helped send America into its worst recession in 70 years. For them to imply that eliminating jobless benefits would be good for the country is beyond the pale. Oh, but there’s so much more that is outrageous about this theory, how it was reached, and about what it implies.

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