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Bunker Hill Community College - Bus 111 - Class Notes - Week 2

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Bunker Hill Community College - Bus 111 - Class Notes - Week 2

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background image runo Iksil, the so-called London Whale, was charged with 
managing over the loss of $6.2 BILLION at J.P. Morgan Chase 
& Co. in 2012. Where does it end? Who is responsible for 
these staggering loses? Where were the checks on trading 
accounts? Where was Iksil's manager? What were this 
employee's ethics, if any? Is the high-risk culture of big 
banks to blame? Are these banks too big to fail and too big 
to regulate? These questions are conversation starters - 
answer these questions or raise your own points! (Graded: 
Write an initial position addressing the topic, then respond to
at least three other classmates' posts by Sunday at 
midnight.)
Please note that discussion boards are closed Monday 
mornings, one week after they are assigned, and that there 
is NO opportunity to make up discussions.
The London Whale article is mostly about Runo Iksil who 
made his company lose billions of dollars, and according to 
the article the bank admitted to violating security laws. The 
ones to blame I believe are Runo and Jamie Dimon, the 
bank’s chief executive who are suppose to manage the 
company and be the face of the company and instead they 
do this to it. The Checks on trading accounts were in Runo’s 
account and as for the managers, they were there but they 
conspired with these two since according to the article 
“whale himself, Bruno Iksil , nor any senior managers were 
charged “despite them committing security frauds by hiding 
the true extent of losses from bank management. Employee 
ethics was nowhere to be seen since the colleagues 
“doubled down after a loss with bigger and bigger bets. “The
employees were also helping their bosses since they had 
been keeping records to minimize the projected sizes of the 
losses”, which then triggered this investigation. I Think that 
the high risk culture of the bank really is to blame because 
you have money and power working for such a bank but 
abusing your position and authority wasn’t the way to go. 
These banks are too big to fail and too big to regulate since 
they did lose $6.2 Billion, and a billion dollars is a lot of 
money. 

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School: Bunker Hill Community College
Department: Business
Course: Principles of Management
Professor: Nancy Whittenetti
Term: Spring 2016
Tags: managers
Name: land whale article
Description: article about how these managers handled the situation
Uploaded: 09/19/2016
2 Pages 3 Views 2 Unlocks
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