Friday, March 22, 2013

Belly Tranches and The Big Whale

The fact that the US government wants us to subsidize the big banks while applying the "too big to jail" principle, makes this story about the hubris and incompetence of JP Morgan's risk management essential reading.
http://www.nytimes.com/2013/03/22/business/behind-the-derivatives-gibberish-risks-run-amok.html?smid=pl-share

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