Bloomberg: What Jamie Dimon Doesn’t Know Is Plain Scary
Last month, after Bloomberg News broke the story that JPMorgan Chase & Co. (JPM)’s chief investment office had, in essence, become a ticking time bomb, Dimon, the bank’s chief executive officer, called the press coverage “a complete tempest in a teapot.” That explanation no longer works.
Could Jamie Dimon really be as clueless as he sounds?
Bank of England: Toxic Banking Culture Risks A New Crisis
The toxic culture inside banks must be tackled to prevent another financial crisis, a senior Bank of England official has said.
Michael Cohrs, a member of the Financial Policy Committee set up to police UK banks, said strict new rules alone will not make the system safe.
He said the culture within banks including bonuses that reward excessive risk -- needs to change.
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