Across this country in offices and construction sites and classrooms competitive juices run amuck as the Fantasy Draft for the 2012 season takes place.
Thanks to reporting by Bloomberg today, we are getting the view that JPM in London has run amuck trying to become a major profit center by specializing in corporate derivative transactions similar to those used in the lead-up to the mortgage meltdown in 2007-2008 that caused several banks to become insolvent and need to be bailed out.