JPMorgan’s Whale of a Loss and Dimon’s Volcker Criticism Look Worse in Hindsight
The Jamie Dimon utterance from last night’s mea culpa that stuck with us today had to do with hindsight—not when he said that looking back, the hedging strategy that resulted in a $2 billion loss was “flawed, complex, poorly reviewed, poorly executed and poorly monitored”—but rather this: “Hindsight is—even in hindsight, it’s not 20/20.”
Last Read More
