I thought Jamie Dimon handled himself very well in front of Congress.  While so much has been made about this trading loss, which really is relatively small compared to the size of the firm, the bigger issue is on the transparency of banking operations.  No bank should engage in financial dealings that aren’t understandable to...Read More

This article wrongfully states that investors are buying credit default swaps on Wall Street Banks to protect themselves.  Realistically most credit default swaps are used as a speculation tool similar to shorting.  The difference is that CDS markets have a lot less reliable liquidity and can easily be distorted by larger traders such as JP...Read More