Thomas Curry

It looks like London Whale Bruno Iksil is currently vacationing in a quantum state between fired and not-fired, which I suspect is relatively pleasant compared to, like, trading credit indices, and his immediate supervisors have all moved on to bluer oceans. But layers and layers of people above them continue to have to tug at their collars and worry about the whole why-didn’t-we-stop-his-whaling-and-what-does-it-mean-for-our-jobs thing. Jamie Dimon has done a certain amount of that, but today the regulators in charge of JPMorgan got ther chance to do some collar-tugging in front of the Senate. Let’s just assume that was enlightening.

In any case this, from the Fed’s Daniel Tarullo, must be right, right? Read more »