2012-10-12nakedcapitalism.com

Via e-mail, some updates from Michael Crimmins, a bank compliance expert and member of Occupy the SEC, on the continuing failure of the media to portray the real significance of the JP Morgan London Whale losses: that it revealed glaring deficiencies in internal controls that warrant prosecution of Jamie Dimon under Sarbanes Oxley (SOX). This section of a July post by Crimmins explains why the London Whale control failures are serious. JP Morgan's kid gloves treatment by the press shows it pays to be a major advertiser


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