J.P. Morgan should split in two, as former Citi chair Sandy
Weill has recommended for all big banks. In fact, it should go first. But
before it does, the bank's board needs to address its own governance issues so
the split goes well, Fortune writes.
It has been another tumultuous couple of weeks for J.P.
Morgan (JPM). Events continued to raise questions about the veracity of company
statements and the propriety of its motives and actions. Last week, a FERC
filing in an energy manipulation investigation provided a "detailed,
email-by-email summary" to back up its assertions that "J.P. Morgan
repeatedly and deliberately insisted that unprivileged emails were
privileged."
Bringing the investigation into sharper focus, the Financial
Times recently reported that Wall Street banks like J.P. Morgan are becoming
more heavily involved in the oil trading business and supplying oil to refiners…..
No comments:
Post a Comment