I understand that Jonathan Weil has deadlines to fill, but the conceit of his latest column, posted under the headline, “How JPMorgan Is Like Enron,” is a bit much. Before you start worrying about the possibility of an Enron replay at 270 Park, here’s the quickie version of what Weil had to say: Enron used value-at-risk, JPMorgan uses value-at-risk. VAR isn’t perfect. Got that?
This sort of thing isn’t just idiotic, it’s pathetic. If, in any given week, Weill doesn’t have anything coherent to say, his editors should give us all a break and not make him say it.