JPMorgan and Risk Taking 101

Now that the dust has settled for the time being, thanks in no small part to Morgan Stanley bungling the Facebook IPO, the reality is that the true extent of the losses that may be attributed to the "hedge" that JPMorgan used is still unknown and incalculable. What is odd is how JPMorgan describes the position. The bank would rather refer to the mistake as a hedge gone bad as opposed to a trade gone bad. Perhaps the bank feels public perception of the gaffe would be less severe if it was construed as a mechanism to protect against a potential loss versus a overly aggressive position taken by the bank to increase profits at the expense of depositors and tax payers. Regardless, what cannot be changed is the impact this will have on the perception of Jamie Dimon as a beacon of omniscient banking knowledge and experience. At the very least, Mr. Dimon should be less vocal and outspoken about suggesting less banking regulation going forward. What are your thoughts? Leave me a note in the comments section. Thank You!