Jamie Dimon certainly provided an easy target last month. One of Wall
Street's most ardent, and certainly most outspoken, opponents of
financial reform was left to eat humble pie after JP Morgan reported a
$2 billion – then $3 billion and growing – trading loss in Q1 after some
hedging tactics failed.
In retrospect, it may have served him well to pull his head in at
times. If you are going to call Basel III 'anti-American', you best have
a flawless record not only in the past but also the foreseeable future.
Since the May 10 trading loss announcement his...