May
22

Billions Blown

The $2 billion blunder by J.P. Morgan, while not pretty, is no clarion call for added regulation. Rather, it shows that with enough capital mistakes of this magnitude can be easily absorbed. That is, while regulations can be skirted, and rendered obsolete due to new financial instruments and top notch lawyers, there is nothing that focuses the mind of a banker more than the thought of losing their own money.

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