Quote:
Originally Posted by 59GS
...What JPM did was have a very long position and THEN they INCREASED the risk by getting even longer so sure were they that they were right. IDIOTS gambling with OPM because they don't believe a downside exists for them. The next bailout from the left teat is there for the asking if they "ef" up.
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When Jamie Dimon says it was "stupid" and suposedly didn't know what a overseas "rouge trader" is doing making hedges (bets) with billions of OPM, then the system is "broken"
. We need to return to the "old days" imo...