Buying American snake oil

Friday, May 11, 2012


Risky Systems, Dire Consequences...

Yesterday night a somber CEO had to announce publicly that his bank had lost U$2B dollars in set of complex synthetic derivatives trade,



This CEO is no ordinary CEO but the king of Wall Street, Jamie Dimon, one of the most astute bankers around. The bank went through the financial crisis unscathed but suffered heavy losses last week