Jamie Dimon's Role On NY Fed Board 'Damaging The Legitimacy' Of The Federal Reserve
The New York Times:
There are two diametrically opposed views of how the largest financial companies in our economy operate. On the one hand are views like those of Charles Ferguson, director of the Academy Award-winning documentary “Inside Job” and author of the new book, “Predator Nation.” Mr. Ferguson takes the view that greed and immorality now prevail to an excessive degree at the heart of Wall Street.
Read the whole story at The New York Times
Read more from Huffington Post bloggers:
Harlan Green: Some Institutions Are Too Big to Succeed
Whether out of ignorance or not understanding the ramifications of such high risk derivative hedges, CEOs such as JP Morgan Chase's Jamie Dimond apparently have little control over the trades such as caused the $2 billion loss.
Filed by Jillian Berman