Bloomberg says Blythe Masters is an idiot

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JPMorgan Said to Transform Treasury to Prop Trading

JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon has transformed the bank’s chief investment office in the past five years, increasing the size and risk of its speculative bets, according to five former executives with direct knowledge of the changes.
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http://mobile.bloomberg.com/news/20...transform-treasury-to-prop-trading?category=/

They shut down the prop trading unit to comply with the Volcker rule, while shifting prop trading activities to other parts of the bank. If I'm reading the article right, JPM customers are going to get MF Global'd at some point down the road when everything blows up.
 
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