http://www.ritholtz.com/blog/2012/05/jpmorgans-addiction-to-gambling-on-derivatives/
JPMorgan is in trouble because Dimon and his senior managers are addicted to gambling on financial derivatives with our money. The lesson they learned from the ongoing crisis is that they could get away with this. If they continue to gamble on financial derivatives it is only a matter of time before they suffer catastrophic losses. It is imperative that the SDIs be shrunk to the size that they no longer pose a systemic risk and can be closed without bailing out their creditors. The regulators need to replace Dimon with a manager who is not addicted to exploiting federal subsidies to gamble on financial derivatives.
No comments:
Post a Comment