Tag Archives: The Whale

Clearing The Bull: JP Morgan And Derivatives Derangement Syndrome (DDS) Part II

In the first article we placed the JP Morgan derivatives loss in context, noting that governments are a far greater danger to our financial health than banks. This article focuses on why more legislation, more regulation, more governance and more controls will not solve the problem.

Contrary to what everyone would have us believe the failures at JP Morgan were not about legislation, regulation governance and controls—history shows that these only work until the next cock-up. They are about the mission and values of the organization, and thus the type of culture within which it operates.

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