JPMorgan: Top execs in bad trade dismissed

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  • Owl Salt Lake City, UT
    July 13, 2012 12:19 p.m.

    In the Navy, the commander of the ship is ultimately responsible for the conduct of the crew. The CEO sets the ethical standards at JPMorgan and that lack of standards is the basis for this loss, not a rogue trader. If the trades had been profitable, despite the risk involved, they would have been richly rewarded. JPMorgan is declaring that high risk business practices are bad, only if they don't prove profitable.