Taibbi: $JPM Hearings Show That Nobody Knows What is Going on Within Big Banks

“If there’s been one positive result of the largest U.S. bank grappling with $6.2 billion in trading losses, perhaps it’s everyone else learning how little we truly know about these massive institutions.

Matt Taibbi recently told Sam Seder’s Majority Report that a Senate committee’s recent grilling of former JPMorgan Chase executives over the London Whale scandalwas a pivotal moment for those hoping to hold banks more accountable.

Some suggest that the report, which found that JPMorgan executives consistently disregarded or covered up red flags, shows that big banks have become too big to manage…”

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