Three questions

1) Why does Jamie Dimon still have a job?

2) What does it say about the financial industry someone capable of such glaring incompetence rose to the top of a major financial services company?

3) Why should anybody take seriously what he has to save about government regulation of finance?

From this:

JPMorgan Chase chief executive Jamie Dimon acknowledged Sunday that the bank “made a terrible, egregious mistake” by dismissing concerns about a $2 billion trading loss it disclosed last week.

“We were dead wrong” to dismiss questions about reports that a trading group in London was taking outsize positions to hedge against risk and distorting the market, Dimon told NBC’s David Gregory in an interview that aired on “Meet the Press.” The bank’s actions were “sloppy and stupid,” he said.

In a conference call with analysts in April, Dimon called the concerns a “complete tempest in a teapot.”…

The losses, disclosed by the bank Thursday, have reopened a long-standing clash between Capitol Hill lawmakers and Wall Street over whether banks are still taking too much risk and whether they should be pushing back against regulations passed after the financial crisis.

 

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Same Sex marriage horror stories

This is good.  Especially love the last panel.

Photo of the day

Hindenburg!  OMG, this set is so cool I could post 10 of them.  Please check out the whole thing.  One of my favorites:

The Hindenburg trundles into the U.S. Navy hangar, its nose hooked to the mobile mooring tower, at Lakehurst, New Jersey, on May 9, 1936. The rigid airship had just set a record for its first north Atlantic crossing, the first leg of ten scheduled round trips between Germany and America. (AP Photo)

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