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Wednesday, May 16, 2012

Jamie Dimon’s failure

"Taking a much bigger-picture view, however, what was really going on here was that JP Morgan had hundreds of billions of dollars in excess deposits, thanks to its too-big-to-fail status. And rather than lending out that money and boosting the economy, Jamie Dimon decided to simply play with it in financial markets, just as a hedge fund would. "

Jamie Dimon’s failure | Felix Salmon

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