Jamie Dimon, the CEO of JP Morgan Chase, will be subjected to a very public tongue-lashing when he testifies before the U.S. Congress later this week. The $2 billion “tempest-in-a-teapot” trading loss is the reason why, but Dimon’s banking sector colleagues are at a loss to understand the need for a public chastisement over something that they deem an inevitability in the business. According to one critic, it serves no purpose other than to reduce investors’ confidence in the U.S. financial system in general, and in JP Morgan Chase, in particular. Read more
