Look at the narrative that is being spun in the media, Ina Drew caught lime disease and lost control, the traders were rogue, Dimon was hoodwinked, yadda yadda.
Mr Dimon pushed his people to chase more yield. More yield=more risk. Why? To pay record bonuses, that's why. That is all you need to know.
PS: Who are the morons who certified that there were no known deficiencies in internal controls?
A few bad apples indeed. All it takes is a few in the TBTF C-Suite.
© All Rights Reserved
© All Rights Reserved
© All Rights Reserved
© All Rights Reserved
© All Rights Reserved