53 Brentwood Blog

Saturday, May 12, 2012

errors, sloppiness and bad judgment

As Mr. Dimon put it: “In hindsight, the new strategy was flawed, complex, poorly reviewed, poorly executed and poorly monitored. The portfolio has proven to be riskier, more volatile and less effective as an economic hedge than we thought.”

JPMorgan suffered $2 billion in trading losses due to “errors, sloppiness and bad judgment” ....


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