So CEO Jamie Diamond admits JP Morgan’s new VaR Value at Risk model morphed into 4+ billion dollar loss?

So CEO Jamie Diamond admits JP Morgan’s new VaR Value at Risk model morphed into 4+ billion dollar loss? After today’s testimonial in a Washington Senate chamber, Diamond admitted this. Too bad they did not go into details to talk proprietary info? Anyone got any thoughts or ideas on this?  The power of quant modelling …

So CEO Jamie Diamond admits JP Morgan’s new VaR Value at Risk model morphed into 4+ billion dollar loss? Read More »