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Economy

FarCenter

(19,429 posts) Fri May 11, 2012, 08:46 PM May 2012

The Tale Of A Whale Of A Fail

Hi! Would you like to talk about the London Whale? Sure you would. The amount of misunderstanding of our poor beleaguered beluga is staggering, so I figured we could try to embark on a voyage of discovery together. Maybe we’ll figure it out. Along the way we’ll talk a tiny bit about the Volcker Rule. I am going to try to talk very slowly and simplify things so if you are pretty financially sophisticated you could skip this post (I’ve linked to some better things to read at the end), or just get really angry at me in the comments. Also this post is terrifyingly long, sorry!

http://dealbreaker.com/2012/05/the-tale-of-a-whale-of-a-fail/

Best blog entry I've read explaining what happened to JP Morgan Chase.