Authors:

  • Ben Heineman

Excerpt

The JP Morgan "Whale" Report and the Ghosts of the Financial Crisis. Ben Heineman, January 24, 2013, Opinion. "The apparition of 2008 returns once more. Two recently released JP Morgan Chase (JPM) reports on the causes of the "London Whale" trading losses raise important questions about whether financial service firms can exorcise the spectral issues which were so central to the financial crisis. They read as if JPM and a key headquarters unit — the Chief Investment Office — had not learned a single lesson from the meltdown four years ago. And unfortunately, they suggest that, in our huge..." Link verified March 26, 2014