JPMorgan Chase went to Vegas, put it all on red and lost $2 billion. OK not exactly, but close enough. You may have heard this week that the country’s biggest bank reported $2 billion worth of trading losses from just the past month and a half.
Traders made bets on risky derivatives — and lost. Gee, does this sound familiar to anyone? Well, right before JP Morgan made its announcement, we talked to John Rogers of the CFA Institute (Chartered Financial Analyst) about the Institute’s global campaign to “improve the investing public’s trust in the investment industry.” Listen to the audio for Rogers’ perpsective on how trust was lost and the CFA Institute Integrity list.
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