Wall Street Ethics, Derivatives Rules Loopholes, The Weirdness of PFGBest and More

Wall Street’s take on ethics and the downfall of PFGBest dominated financial news this week, while the CFTC finally approved rules for derivatives trading and HSBC admitted that for years it had done next to nothing to prevent money laundering.
July 13, 2012


6. We're So Over This

We have put most of this problem behind us and we can now focus our full energy on what we do best.

—Jamie Dimon, after JP Morgan posted $4.4 billion of credit trading losses this week but said it had cleaned up the group responsible for the bad bets.

Source: Reuters

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