Unlike other financial reform that curb activities, the Volcker Rule prohibits federally insured banks from engaging in specific business lines: proprietary trading and investment in hedge funds and private equity funds.

FORBES: The 'Other' Fiscal Cliff: Unfinished Financial Reforms

The incident followed dozens of cases where banks and other financial institutions have lost customer details - whether through negligence or criminal activities - both in the UK and around the world.

BBC: Indian call centres say they are as good as any

The Financial Services Authority (FSA) found that traders had lied to make the bank look more secure during the financial crisis of 2008, and is now looking into allegations of similar activities at other banks.

BBC: Osborne: Bank's misconduct risked UK's reputation

The tepid growth in these other activities reveals to us that while he was running them, Brown appears to have reported better financial numbers by starving them of investment capital.

FORBES: Icahn's Motorola Morass

In principle, such an approach would appear well justified, as our financial system has become less bank-centered and because activities or risk-taking not permitted to regulated institutions have a way of migrating to other financial firms or markets.

FORBES: Transcript

This and scores of other stories beg the question, then, who is benefiting primarily and most from the core activities of the financial industry?

FORBES: The Financial Industry Does Not Exist For You

Even if JPMorgan activities are safe, what are the risks that they will be entangled in a meltdown of the other financial organizations involved, as in 2008?

FORBES: Why JPMorgan Chase Is Unsafe At Any Scale