Admit what went wrong

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What Jamie Dimon, Lloyd Blankfine, Richard Fuld, Jon Corzine and other princes of finance never got was that they didn?t have control of their own operations. Dimon?s testimony recently revealed he didn?t know the level of risk taken in the ?hedge? = BET that?s cost Chase stockholders a $3 billion-plus loss. The others claimed similar excuses when their firms succumbed to excessive risk taking based on faulty models with vague assumptions. They whine about Dodd-Frank and other regulations in response to the most damaging, self induced financial crisis we have ever experienced ? one that cost the American middle class their jobs, their homes and their retirement incomes. Until they accept responsibility to the American public for their own failings at self regulation and clean up their actions, they will just have to adhere to the clumsiness of our right to control their excesses. John Thurman, Lincoln