Why do these big banks do what they do? How can a Hedge can turn into US2 billion loss. The only answer is to qualify for a job at JP Morgan you need to be a maverick with an ivy league MBA.

Definition of a hedge in wikipaedia:

"A hedge is an investment position intended to offset potential losses that may be incurred by a companion investment. In simple language, Hedge (Hedging Technique) is used to reduce any substantial losses suffered by an individual or an organization."

So it begs the question when Jamie Dimon attributes the losses of US2 billion to a 'hedge' and mistakes. You might as well call it a 'big gamble and bet that went horribly wrong', where the trader was going for his big bonus payday...

"Something ou should be ashamed about, or are you very proud about it?"