ML-Implode News - Does Jamie Dimon Even Know What Hedging Risk Is?

The larger point, though, is I think we all know damn well what Jamie Dimon and Bruno Iksil were doing -- as Zero Hedge explained last month, they were using the CIO's risk management business as a cover to reopen the firm's proprietary trading activities in contravention of the current ban.
Personally, I have no idea why the authorities insist on this rule -- if J.P. Morgan want to persist with a hyper-fragile prop trading strategy that rather than hedging against tail risk actuallyÂ magnifies risk, then there should be nothing to stop them from losing their money. After all, these goons would quickly learn to stop acting so incompetent without a government safety net there to coddle them.

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Does Jamie Dimon Even Know What Hedging Risk Is? - Azizonomics