> you're reading...
Finance

JP Morgan FUBAR’d

As tempting as it is, I’m not going to pile on JP Morgan for their $4 Billion write-off.

Really.

I have to give Jamie Dimon credit (sic) for his candid review of the situation:

The bank’s strategy was flawed, complex, poorly reviewed, poorly executed and poorly monitored, Mr. Dimon said … He called the mistake egregious, [and] self-inflicted  …

The $4 Billion That Got Away

Back in the day when I worked for a living, and things didn’t go particularly well, the question was always whether it was FUBAR‘d because of a good strategy with crap implementation, or crap strategy with good implementation.

Once in that debate everyone involved could point fingers and run from responsibility.

So I have to admire Mr. Dimon for leaving no doubt that this particular exercise was crap from beginning to end.

Really.

Advertisements

Discussion

Trackbacks/Pingbacks

  1. Pingback: Syria, I’m Your Banker And I’m Here To Help « Not A Mystery - June 9, 2012

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Search by Category

Archives

Sterling Jewelry & Gifts

Sterling Jewelry & Gifts

Creative Commons License

pinterestlogo