Wall Street is not known for self-examination. Colossally bad bets and spectacular losses are more often treated as individual failures than systemic ones; risky behavior is seen as a sign of intestinal fortitude, not foolishness. In the wake of the multibillion-dollar trading loss at JPMorgan Chase (JPM)—considered the best in the …
The JPMorgan Trade: Time for a Special Counsel
Better Markets sent a letter Monday to Attorney General Eric Holder, calling for the appointment of a special counsel in connection with the multibillion-dollar trading loss at JPMorgan Chase & Co. What’s at stake is very important, and goes to the heart of whether Americans still have faith that the judicial …