It's hard to get more ironic: One of the most outspoken CEOs on the dangers of over-regulation of banks showed the world why more regulation could be needed.
On May 10, JP Morgan Chase CEO Jamie Dimon disclosed that one of the bank's units in London had lost nearly $2 billion on a single trade -- the handiwork of a trader nicknamed the London Whale because of how he dominated the market. Since then, the loss has ballooned to nearly $6 billion.
Extra irony: The London unit was actually tasked with limiting risk.
The disclosure came several weeks after Dimon dismissed a question from an analyst, calling the report of a dangerous trade a "tempest in a teapot." -- Maureen Farrell
