JPM "London Whale": "I Was Set Up As Fall Guy"

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In the letter, Iksil discusses the history of how he says he was told to execute various trades, beginning in early 2007 and running through the financial crisis. Later, during the summer of 2011, Iksil writes he was ordered to keep executing the strategy, "despite my repeated warnings." He said he "kept raising alarms in the first half of March 2012," just before losses began to mount. The unit "swung into crisis mode" later that month, he writes.