The Fed director whose company took in the most government aid was Jamie Dimon of the banking giant JPMorgan Chase. The Wall Street Journal meanwhile has revealed a number of top JPMorgan Chase executives were alerted two years ago to the practices of the London-based traders whose risky bets recently cost the bank more than $2 billion. The executives were aware of the traders’ practices as early as 2010, when a single foreign exchange options trade led to a loss of $300 million in a matter of days.
Report: JPMorgan Execs Were Aware of Risky Practices
HeadlineJun 13, 2012