2012-05-14ml-implode.com

This past week, JPMorgan Chase CEO Jamie Dimon announced that his bank lost $2 billion trading credit default swaps. It was destined to become a major news story, and sure enough everyone and their cousin wrote about it from every conceivable angle, the consensus being that the loss exemplifies the need for Dodd-Frank, the Volker Rule, and even Glass-Steagall type legislation.


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