JPMorgan's Dimon Done All the Right Things: Rayburn

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Jan. 7 (Bloomberg) -- Kobi Partners Managing Partner Greg Rayburn discusses JPMorgan's fines and penalties on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Businesses to try to change them for the inside.

That jpmorgan need a makeover?

I think that jamie dimon, with one exception that i know of, has really made all of the right decisions.

I think if he could have sat down one particular day today's -- two years ago, and wrapped up all of the issues, he would have loved that.

He has done all of the right things.

, on -- come on, those were some serious things.

They have multiple computer systems that alert them to suspicious account, and they turn them off so they could keep trading with him.

If you want to put a balance sheet up to it, and a stock elevation up next to it meant about value creation when it is those numbers that are rounding errors.

What he has done is after these issues have come up . it doesn't necessarily mean that these need to be unwound or broken down.

Too big to fail is a whole separate conversation.

I think the only time you really made a mistake was when you had the whale issue.

A tempest in a teapot, from a crisis standpoint, i go back to rule called -- those being indicted for fraud.

I think he handled that poorly.

I would tell ceos in that situation to wait till until you know everything.

We're getting pressure from outside -- what was your job?

I was the chief restructuring officer.

I was working closely with the ceo, function almost like a coo at the time.

We had pressure from outside consultants and inside people about the broad -- fraud, and all of our senior vp people wanted to get in front of it.

Sort of standard 101 of let's get in front of it, do not trail the issue.

I just said no, -- there's a lot of pressure to get out there and tell the truth.

Or just tell something?

Just to say something.

That is a mistake.

Unless you know everything of the ceo, and all of the -- how wide it is, what the culpability is, i begin is a mistake just to say something.

It does not matter what you say.

We could have said we were looking into a more even said that we think we're going to do this or do that.

Until you get to that endpoint, it does not really matter.

What do you really know -- how do you really know that you know everything?

Jamie dimon facing the same thing with the trading of london well.

Trading that they were trying to hide, losses that they were trying to hide.

I do not know of any frauds that people have not figured out at some point.

Some point.

Sometimes they do not take very long.

This was a quarterly journal entry.

This is not sophisticated fraud.

Did it take time to figure out the magnitude, yes.

But you can get to that point, and you can handle that differently than either belittling it or making some kind of positive statement.

We're going to go to today's global outlook.

The trade deficit in november

This text has been automatically generated. It may not be 100% accurate.


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