Monday May 14, 2012
Jesse has some great observations and links on how Jamie Dimon loobied for a loophole that allowed JPM to engage the the 'hedges' that promptly lost the bank $2 B. Like Jim Rogers, I frankly wonder if Jamie Dimon and Blythe Masters really know what they are doing. Certainly not this time.
This is why student should learn more about derivatives and hedging. This is literally the most important topic of the day.
Professor Elam 
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