So, When Is JP Morgan Going To Fire The Incompetent Fools Who Just Lost $2 Billion And Trashed The Firm's Reputation?

BusinessInsider’s Own Henry Blodget writes: On Thursday, JP Morgan was forced to call an emergency press conference to reveal staggering losses it has incurred from a massive derivatives trade.

This loss has trashed the reputation of the bank and its CEO, Jamie Dimon. It has also inflamed concerns about banks in general and the state of the global financial markets.

So when are the idiots who made and monitored and approved this trade going to get canned?

I mean, how long does it take management to conclude that incinerating $2 billion and trashing the firm's reputation is a fireable offense?

Or is it NOT a fireable offense?  On Wall Street, is it just totally fine to recklessly gamble with the firm's reputation and capital like that?  Of course, the truth is that the people who made this trade are not in any way shape or form "fools." Rather, they're brilliant gamblers who correctly assessed the risk/reward for themselves (if not their firm) in making the trade.....

Read more: http://www.businessinsider.com/so-when-is-jp-morgan-going-to-fire-the-incompetent-fools-who-just-lost-2-billion-and-trashed-the-firms-reputation-2012-5