JPMorgan's London Whale A Loch Ness Monster for Our Times:
NEW YORK (TheStreet) -- How real is JPMorgan Chase's "London Whale?" It may not matter much in the end.
The most interesting part about myths is what they tell us about the environment that creates and propagates them. One certainly hopes bank regulators are on top of the trading positions of the Whale or, for Harry Potter fans, "Voldemort" (He Who Shall Not Be Named) or, for those with a fetish for real names of real people, Bruno Iksil.
Regardless, Iksil has already served his purpose for those of us interested in the question of whether banks are too big to fail and too complex for anyone to understand. And who isn't interested in that question these days?
...
Click to view a price quote on JPM.
Click to research the Banking industry.
NEW YORK (TheStreet) -- How real is JPMorgan Chase's "London Whale?" It may not matter much in the end.
The most interesting part about myths is what they tell us about the environment that creates and propagates them. One certainly hopes bank regulators are on top of the trading positions of the Whale or, for Harry Potter fans, "Voldemort" (He Who Shall Not Be Named) or, for those with a fetish for real names of real people, Bruno Iksil.
Regardless, Iksil has already served his purpose for those of us interested in the question of whether banks are too big to fail and too complex for anyone to understand. And who isn't interested in that question these days?
...
Click to view a price quote on JPM.
Click to research the Banking industry.
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