Too Big to Fail Bank Subject of Senate Hearing
J. P. Morgan Chase Chief Executive Jamie Dimon testified before a Senate Committee, Wednesday June 10. He said that he could not defend how a hedging strategy in a London office of the bank caused a multibillion dollar trading loss. This statement by the Chief Executive of Chase underscores the obvious fact that the big banks are far too large and far too diverse to be managed well. They are so far-flung geographically and in so many different, and often...
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