Courtesy of Pam Martens.
With criminal charges imminent, we look back on reporting of the London Whale revelations at Wall Street On Parade.
Personal Investing Lessons From JPMorgan’s London Whale Debacle
Despite a multitude of formulas for measuring risk, multiple layers of oversight management, 28 members of a risk management team with titles like Managing Director, Executive Director, and Vice President, it somehow didn’t occur to any of these folks that the number one criteria for a trading investment is that you need to be able to get out of it. Continue Reading…
JPMorgan: Poster Child for the Most Dangerous Financial System Since 1929
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