Of Polls and Polsters | 71 comments (71 topical, 0 editorial, 0 hidden)

Re: Of Polls and Polsters (4.00 / 2)

A bank CFO would normally be in charge of at least part of the treasury operations, certainly the management of the held-to-maturity book. London-Whale kind of stuff could happen under their purview.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Carrie (migeru at eurotrib dot com) on Mon Mar 21st, 2016 at 10:17:39 AM EST
[ Parent ]

Re: Of Polls and Polsters (none / 0)

Sure, but the London Whale was stupidity, not fraud, no?

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Mon Mar 21st, 2016 at 01:49:52 PM EST
[ Parent ]

Re: Of Polls and Polsters (none / 0)

Stupidity, hubris and confusion at least. Fortunately for JPM, another unit of JPM unknowingly took the other side of some of his derivative bets, thereby reducing the damage. It was clearly a deliberate violation of Sarbanes-Oxley, the consequences of which are a testament to the lobbying power of Wall Street.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Mar 21st, 2016 at 07:54:07 PM EST
[ Parent ]

Of Polls and Polsters | 71 comments (71 topical, 0 editorial, 0 hidden)

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