video transcript

I'm -- columnist James -- Risk control might change. Many of the fundamental preconditions for JPMorgan. Speculative loss or steal air. All QB fair tax. Eighty Morgan yesterday -- released both its fourth quarter earnings and 129. Were. Into the details how. She billion dollars. In London cheap investment Auburn's. That you Djokovic make a good pair but I argue that you really have to close earnings understand why it happened in the -- And why it might just happen. If you JPMorgan's earnings what you see is -- portrait of it's way too much money coming in front war it can't find enough good opportunity to -- problems. Deposits were up 6% in last year. And something called the loan to deposit rates were actually just measure how many lines they're making -- how much money game I. Now -- most low wow. I'd argue deposits are being driven by two -- -- status. And loans in part just by the economy. Is well if you look. At something called net interest margin which measures how profitable alone in -- -- And he falling for a long time now and asked where. That in part it's because we're zero interest. I think that. Regardless of putting in numerous roles she failed banks are gonna find themselves and economic problems. And -- successor. Got too much money. And their core business just -- and all that track. Hard to say what the next problems can be easily take -- -- loans in order to get investment. And act. Could be real estate financing or something else but we're gonna see another instance of this kind of problem. Unless TE TF is taking care and in less interest rates --