WEEKLY MARKET DIGEST: AMERICA’S GOLDEN BOY STUMBLES
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers.)
AMERICA’S GOLDEN BOY STUMBLES
May 11, 2012
The CEO of JP Morgan, Jamie Dimon, has long been known not only as America’s golden boy, but also the most esteemed CEO in the world of banking. He had the reputation of being the best risk manager in the world.
Yesterday after the market close JPM reported a sizable loss from a derivative hedge trade. Dimon calls the loss egregious and self-inflicted.
Financial markets are shocked and risk aversion is the fashion of the day.… Please click here or the title below to read more.
May 12, 2012