08/02/2012 08:32 am ET Updated Oct 02, 2012

Simon Johnson: Our Big Banks Rely On Three Myths

Global megabanks have had a tough summer.

Jamie Dimon, the chief executive of JPMorgan Chase and a vociferous opponent of restrictions on reckless risk-taking by big banks, presided over large losses because of exactly such behavior in the company's London office.

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