Whalen: Too Much Regulation Caused JP Morgan $2B Loss
May 18, 2012
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12:55Now PlayingWhalen: Too Much Regulation Caused JP Morgan $2B Loss
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as posted by the channelMay 18 (Bloomberg) -- Last week JP Morgan Chase acknowledged a trading loss of at least $2 billion, fueling calls by some observers for more regulation of financial institutions. Chris Whalen, a Senior Managing Director at Tangent Capital Partner, tells Bloomberg Law's Lee Pacchia that it was actually too much regulation that led to the loss. Jeff Madrick, a Senior Fellow at the Roosevelt Institute, maintains instead that regulators need to clamp down on financial institutions if the dangers of such losses are to be minimized.
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