JP Morgan Chase did a good thing and everyone should applaud. Its good thing was noted at the same time its bad things were making news. A good thing too. The good thing came within days of Senate hearings that would have caused all but Jamie Dimon to think there was little good to be said for the institution.
In a classic example of crony board behavior, in spite of the grossly embarrassing Senate hearings highlighting massive fissures in JP Morgan's trading oversight and management, the Board of Directors said on Friday they would continue to support Mr. Jamie Dimon as BOTH the bank's Chairman and Chief Executive.