Risk Management

CDS & JPM the London Whale

JPM's London CIO thought CDS would be a great investment for the secondary portfolio. But the people tasked with calculating correlation were overworked an unfocused. Burned by too much leverage, and wider markets as they try to exit (slippage)....

17 July, 2012

Credit Default Swaps
Risk Management

JPM: London’s Whale is Burning Down the House

Burning Down the House My house is out of the ordinary, that's right Don't want to hurt nobody Some things sure can sweep me off my feet Burning down the house! – Talking Heads As much as I love Jamie Dimon, I can’t help but hear this song as the...

13 July, 2012

Credit Default Swaps
Risk Management