Sheila Bair: ‘It Would Be Refreshing’ If Regulators ‘Admit They’d Made A Mistake’ On JPMorgan Chase Loss

“* Bair says doesn’t like “piling on” over JPMorgan

* Says loss does not threaten viability of the bank

* But says it does show some banks too big to manage

* Bair says would like regulators to admit mistake

By Karey Wutkowski

WASHINGTON, June 14 (Reuters) – Sheila Bair, the former regulator who helped steer the U.S. financial system through the recent credit crisis, said JPMorgan Chase & Co’s multibillion-dollar trading loss needs to be put in perspective.

Bair told Reuters TV on Thursday that regulators need to accept blame for not catching the trading debacle and said it shows that some banks are too big to manage.”

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