JP Morgan Chase – In The Company of Liars

Ideas From the Edge

Okay, now I have heard it all. JP Morgan Chase had a 6 billion dollar “loss” and didn’t know it. If you believe that story then you are an idiot. How does a bank “lose” 6 billion dollars? I don’t know. Help me understand because I am curious. I have seen companies’ fire people over small petty cash or expense report infractions. This was an out and out criminal collusion. You don’t just lose 6 billion dollars and no one notices.  It takes a team of people to cover up this loss.

Obviously, Chase does not foster a culture of integrity or ethics. Oh no, everyone wanted to jump on this gravy train. I am so happy to see that CEO Jamie Dimon is going to implement some additional oversight and accounting controls. This would solve the problem if the whole financial system was not full of criminals. When the…

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