J.P. Morgan: Ina Drew to retire after trading loss – MarketWatch

The interesting thing to speculate about on this story is not that this JP Morgan screwed up. It’s not even that they lost that much money. It’s that I think this guy who is taking the fall was good at his job, smart about finance, etc. etc.

Circumstances that led to a disclosure of this kind must be crazy behind the scenes.

It almost makes you think they were doing things as they normally did and then were unable to cover in the usual way and a normal enough number, which normally would have been swept under a rug of bs, was disclosed.

I wonder what is different now.