The Ethical Barometer ? Blog Archive ? ?Stupid?

A word?Chase Bank executives hurled at bank examiners who were concerned about seeing records,?the Bank?s risk exposure, changes in risk procedures, and use of federally guaranteed funds for the London Whale?s operations.??? Chase lost between $6 and $8 billion from?the London Whale?s activities.? The Senate Banking Committee report on Chase?s losses is damning.??The report?s summary of management?s behavior during the mounting risk exposure and ultimate losses is a study in hubris. Ad hominem attacks on regulators don?t change the fact that you are in over your head.? Withholding information from regulators does not change reality.???Stupid is as stupid does.

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Source: http://www.mariannejennings.com/?p=1652

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