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.

FORBES: JP Morgan's $370 Billion Hedge Fund Made Foolish Bets With Bank's Cash