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The Office of the Comptroller of the Currency reportedly downgraded JPMorgan's (JPM) management...

The Office of the Comptroller of the Currency reportedly downgraded JPMorgan's (JPM) management in the summer to "3" from "2" in a confidential scorecard - although clearly not all that confidential - following the $6B London Whaling Loss. The scale of the grading is 1-5, with three signifying that "the capabilities of management or the board of directors may be insufficient." JPM expressed surprised at the downgrade and promptly reshuffled its execs.
Comments (1)
  • Is that what you do when the dealer is caught cheating? Reshuffle? I thought it came out differently in the cowboy movies.
    20 Mar 2013, 05:59 AM Reply Like
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