Zimmerman Flew and Tyler Knew
A reader points out that it seems unlikely the London Whale losses were not previously approved by Jamie Dimon:
Anyone who works for JPMorgan Chase will promptly admit that NOTHING can occur without going through a multi-approval process or without the clear and explicit consent of LOB and upper-level management.
That said, only a fool would believe Jamie’s statement that JPMC was unaware of the actions of their financial staff who ultimately made poor choices which resulted in what initially was reported internally as a minor loss but rapidly grew to an insurmountable and embarrassing loss.
Ineptitude | admin September 11, 2012
By Gene Shi, November 7, 2012 @ 6:07 pm
Call:1-866-578-7022, it is chase hotline explaining why this happens. as this happens on a daily basis in Chase