J.P. Morgan losses

Dimon loses his sparkle

The trading debacle at J.P Morgan raises issues about accountability as well the opacity of hedging activities.

Rupert Walker

May 16, 2012

Activists march down Wall Street holding a cutout of Jamie Dimon during a protest against bank practices in New York last week

The exact details of the loss-making trades transacted by the London unit of J.P. Morgan’s chief investment office (CIO) are unclear, but the consequences for the bank’s senior management should be devastating.

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