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JPMorgan’s All of us$2-mil trade blunder brings up spectre out of firmer monetary regulations

JPMorgan’s All of us$2-mil trade blunder brings up spectre out of firmer monetary regulations

Supporters from deeper economic regulation state JPMorgan’s United states$2-million change losses implies that even the best and you may wisest banking institutions makes possibly devastating problems when they begin dabbling in proprietary trade

Mr. Dimon also entered swords with Draw Carney, Governor of your own Financial regarding Canada and you can direct of the Financial Balances Board. At a meeting of your Worldwide Financial Financing during the Arizona last slide, Mr. Dimon notoriously stated you to new financing statutes getting submit to own banking companies in the world was in fact “anti-American” and you may “cockamamie rubbish,” are very competitive according to Reuters you to definitely Mr. Continue reading