What's Mine is Mine; What's Yours is Ours
~ As individuals we hardly expect privacy any longer; and we are getting just what we expect. In contrast, corporations, banks and government at all levels are becoming more and more private, secretive and opaque, and ever-more aggressive about it. Increasingly, we expect that as well, and we are going to get it, in more ways than one.
JP Morgan and Facebook are, in this way, typical of their time. Nothing will come of the lawsuits and investigations because what has happened will trend for some time.
Update: The problem is systemic; it seems fraud was committed at Bank of America too. The retail investing game is rigged, and the only smart move is not to play.