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Home$2B Loss? What Went Wrong at JP Morgan?
Posted by Larry Doyle on May 12th, 2012 7:32 AM |
What really happened at JP Morgan that a $2 billion loss could be racked up in supposedly the course of 6 weeks?
Little bit of octane in some of those positions, perhaps?
Did the brains within JP Morgan really know what they were doing? Did they make the same mistake as the brains at Long Term Capital Management in 1998? What mistake was that? (more…)
Where and When Did Wall Street Go Wrong?
Posted by Larry Doyle on June 23rd, 2011 8:32 AM |
You do not need to read Sense on Cents to know that Wall Street and America have problems. That said, the future of both the financial services industry and our nation are inextricably linked.
The innovative ideas which our nation must generate to drive future growth and employment require capital. Wall Street has that capital. In my opinion, Wall Street needs to seriously refine the use of its capital for its own benefit and that of our nation.
Can Wall Street adapt? Does Wall Street understand the errors of its ways? When might some real leaders on Wall Street call out for the industry to clean up its act? These questions can only be properly addressed in the future if there is an acknowledgment and understanding of where and when did Wall Street go wrong in the past. Let’s navigate.
