From Money Morning Australia
''The financial system wasn’t fixed after 2008, and it won’t be fixed anytime soon.
The unexpected $2 billion – or is it $5 billion? – loss incurred by JPMorgan Chase (NYSE:JPM) “whale” trader Bruno Iksil shows only too clearly the flaws in Dodd-Frank and other regulatory activity.
Big banks are still taking risks they simply don’t understand. Worse, there’s no reason to believe the regulators understand them, either.''
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