Risky business

Lawyers prepare for the fallout from JPMorgan's $2B loss.

, The National Law Journal

   | 1 Comments

Once seen as the bank best able to make the public case against some of the more controversial parts of the Dodd-Frank Act, JPMorgan and its outspoken gray-haired chief, Jamie Dimon, now find themselves at the bottom of a dog pile of regulatory and Capitol Hill investigations only Washington can produce.

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What's being said

  • HENRY A. TURNER, ATTORNEY AT LAW

    Smoke and MIrrors. These were clearly Directional Bets by JPMorgan and not true Hedging. As inferred in this excellent piece, a true Hedge has a correlation coefficient that is "Delta Neutral" i.e. no Gain and no loss. It has been admitted these Bets were designed to make a profit (and the resulting big bonuses for Traders like the London Whale). Bring back Glass Stegall and end this betting nonsense being done by the Banks at potential U.S. Taxpayer expense.

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