$2 Billion Chump Change

News in May that J.P. Morgan dropped more than $2 billion in a derivatives trade made headlines, stirred Congressional committee hearings—Harrumph! Harrumph!—and was a really revolting development for the bank giant’s CEO, Jamie Dimon, a leading critic of derivatives regulation. The blunder was committed within the supposedly conservative treasury department of the commercial bank, not…

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