JPMorgan, Mr. Levin claims, "dodged" regulatory oversight. Mr. Levin says that JPMorgan was "too busy betting on derivatives to issue the loans needed to speed economic recovery."
Compared with its large bank rivals, Mr. Levin says, JPMorgan has the lowest "loan to deposit" ratio.
Mr. Levin uses the JPMorgan trading losses to illustrate the pressing need for stricter rules that rein in risky trading.
As a policy recommendation, Mr. Levin said that federal regulators should demand better disclosure when banks tweak their risk metrics.
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