Investor: J.P. Morgan's $2 Billion Loss Won't Hurt Average Person

DETROIT (WWJ) - Three executives at J. P. Morgan Chase are set to leave this week following a $2 billion dollar loss at the bank.

The loss caused investors to shave almost 10 percent off the bank's stock price.

Still, Sheldon Rosenburg, Director of West Bloomfield investment firm Robert Baird, says the loss won't impact the nations largest bank long term. He says it also doesn't affect people on Main Street.

"I don't believe it affects us individually, again I think that there have been a number of precautions taken when the government lent the major banks a lot of money to prevent the meltdown of our economic system," said Baird.

Others say J.P. Morgan's blunder shows banks are still getting involved in risky trades and some question if that would mean another tax payer funded bail out.