Outstanding discussion. Whalen with Tom Keene.
Start watching at the 3-minute mark.
(Bloomberg) -- Chris Whalen, vice president of investment banking operations at Carrington Holdings, talks about the economy and the outlook for the banking industry.
Chris discusses Apple, Fannie, FHA, BofA, JPMorgan and Citigroup, and repeats his assertion that Jamie Dimon knew about the London derivatives fiasco long before coming clean with investors. Whalen has been hammerring this point since the story broke last Summer. Evidence, both anecdotal and concrete, demonstrates that the decision to shift the activities of the London office from hedging to prop trading was made by Jamie Dimon. Not Achilles Greekopoulos. Not Ina Drew. Not Mary F-ing Poppins.
It was Dimon's call. Clawback his ass along with the others.
Whalen makes his point on CNBC here.