<p>If you were personally faced with betting on complicated nonsense with your own money, you'd never do it. But JPMorgan was betting with other people's money, with deposits, with INSURED deposits no less. Now, JPMorgan traders thought they understood the risks. Obviously, they didn't. And, probably they couldn't. They pretended to be able to understand the world through models that simply cannot account for unquantifiable risks, risks in the real world.</p>
<p><a href="http://www.energybulletin.net/stories/2012-05-13/chesapeake-and-jpmorgan-risk-mismanagement-other-peoples-money">read more</a></p>