The following video is part of our "Motley Fool Conversations" series, in which senior analyst Anand Chokkavelu, CFA discusses topics across the investing world.
Usually when your competitor suffers some slings and arrows, it's good news for your company. The counterparties to JPMorgan Chase's $2 billion-plus in unexpected trading losses will win on those trades (assuming JPMorgan is a reliable counterparty, which it should be). However, bedraggled large banks Bank of America and Citigroup probably aren't celebrating too much at JPMorgan's expense. That's because a reputation loss for one of banking's strongest brands is bad for the industry as a whole. Anand explains.
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