Could the Fed Have Prevented JPMorgans London Whale?

The video discusses a $6 billion trading debacle involving JP Morgan and the New York Fed's failure to conduct planned inspections. It highlights communication breakdowns, oversight issues, and challenges faced by the Fed in managing examinations under Dodd Frank. The discussion also covers the Fed's risk identification efforts, regulatory tradeoffs, and ethical issues in banks, with insights from experts like Michael Moore and Michael McKee.

What role did J. Jamie Dimon play in the context of the trading activities discussed?

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How did the report describe the 'key man problem' within the Federal Reserve?

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What ethical and cultural problems were highlighted in the discussions among New York bankers?

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