National Media Taps Professor Frank Partnoy for Expert Opinion about JP Morgan Chase
SAN DIEGO (May 11, 2012)–University of San Diego School of Law George E. Barrett Professor of Law and Finance Frank Partnoy was once again tapped by national media outlets across the country— including the New York Times and Bloomberg BusinessWeek— to provide expert commentary about JPMorgan Chase’s $2 billion trading loss disclosed on May 10, 2012.
The article discusses how the missteps that led to JPMorgan Chase’s recent loss underscores how bank “hedges” are often risky bets that large banks should not take. Many banking and finance experts believe that JPMorgan’s loss serves as a reminder that there is still a need for regulators to establish tougher regulations on banks.
Partnoy, who supports tighter rules for the country’s banks, said in today’s New York Times, “This is a crucial moment in the debate. It couldn’t have come at a worse time for JPMorgan Chase. After everything we went though in the financial crisis, the fact that something of this magnitude could happen shows that the reform didn’t do the job.”
Click here to read “A Shock From JPMorgan is New Fodder for Reformers” in the New York Times.
Click here to read “JPMorgan Loses $2 Billion on Unit’s ‘Egregious Mistakes’” in Bloomberg BusinessWeek.
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