COMMENTARY: Morgan Chase shows how little we have learned
Patriot Ledger - 05/16/2012
Just when you thought America’s megabanks were safe and sound, JPMorgan Chase disclosed that it had lost at least $2 billion in just six weeks. The loss was suffered on high-risk investments in a portfolio of complex financial instruments known as derivatives. Ironically, it was incurred by a trading group within the bank that was supposed to manage the risks the bank takes with its own money.