Get your news from a source that’s not owned and controlled by oligarchs. Sign up for the free Mother Jones Daily.
From Jamie Dimon, chairman of JPMorgan Chase, on JPM’s risk management practices before the housing crash:
“We didn’t do a stress test where housing prices fell.”
Wow. By 2006, housing prices were nearly double their trend growth levels and JPM never even considered a scenario in which they might fall. Just wow.
