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    Wall Street wrong to blame credit crisis on accounting

    Wall Street wrong to blame credit crisis on accounting

    JPMorgan Chase chief slams Wall Street for blaming credit crunch on acocunting rules

    Author Writer Date published July 9, 2008 Categories

    JPMorgan Chase & Co’s chief executive has slammed Wall Street bosses for
    blaming the credit crunch on accounting rules.

    Jamie Dimon said in an interview with Charlie Rose with US broadcaster PBS:
    ‘It was not an accounting issue, okay? The people who made the mistakes are to
    blame.’

    He added that regulatory systems covering the banking world needed
    tightening.

    Further reading:

    Visit
    Charlie Rose’s website

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