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Big Bank Boards: The Case For Heightened Administrative Enforcement, Heidi Mandanis Schooner
Big Bank Boards: The Case For Heightened Administrative Enforcement, Heidi Mandanis Schooner
Scholarly Articles
This article first considers the possible liability of the JP Morgan board in the London Whale matter. This discussion is not meant to assign liability in that case. Rather, the London Whale episode is considered as a springboard to a broader discussion of big bank officer and director liability. While it may be tempting to shrug off the regulatory implications of the London Whale episode because the losses did not threaten the solvency of JP Morgan, the significance of such management failures should not be ignored. Effective management of large banks is essential to financial stability. The type of poor …