Jamie Dimon Offers Illusion of Transparency

Jan. 18 (Bloomberg) -- The report that JPMorgan Chase & Co.released this week about its London Whale trading losses hassome amazing omissions. It contains no mention of the Whale’sactual name, Bruno Iksil, or the names of almost anyone else whoworked in the bank’s London-based chief investment office, whichgenerated the $6 billion loss.

The report said the names were excluded “in order tocomply with United Kingdom data privacy laws,” which was anawfully handy excuse. Reading the 129-page report at timesseemed like watching a movie where the characters are screamingand throwing office supplies at each other, except they arewearing brown paper bags over their heads and their voices havebeen electronically altered so you can’t tell who anybody is.