May 2012

How J.P. Morgan Chase Has Made the Case for Breaking Up The Big Banks and Resurrecting Glass-Steagall

Technology /

J.P. Morgan Chase & Co., the largest bank in the United States, has announced a loss of $2 billion in trades over the past six weeks, with the potential for an additional $1 billion in losses due to overly risky bets. Chief Executive Jamie Dimon has attributed the losses to “many errors, ‘sloppiness’ and ‘bad […]

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JP Morgan

How J.P. Morgan Chase Has Made the Case for Breaking Up The Big Banks and Resurrecting Glass-Steagall

Fundraising /

The news was all the more surprising given that for the past few years Dimon had been a vocal proponent of loosening government regulations on Wall Street, particularly with regard to derivative trading and hedging. Dimon claimed that the financial system was strong, and that a crisis of the magnitude of 2008 would never happen

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