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U.S. senate finds JPMorgan regulator asleep at the ‘whale’ Add to ...

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A U.S. Senate report on JPMorgan deservedly excoriates the bank over last year’s $6.2-billion trading loss. However the report – released on the fifth anniversary of the collapse of Bear Stearns – doesn’t shed much new light on the “London whale”: the bank run by Jamie Dimon had already admitted many of its mistakes. What stands out from the Permanent Subcommittee on Investigations’ probe is that JPMorgan’s chief regulator, the Office of the Comptroller of the Currency, was a bumbling fool.

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