THIS IS NOT AT ALL SURPRISING...

Another "minor" MOTU fuck-up:

J.P. Morgan's $2 Billion Blunder
Bank Admits Losses on Massive Trading Bet Gone Wrong; Dimon's Mea Culpa
By DAN FITZPATRICK, GREGORY ZUCKERMAN and LIZ RAPPAPORT
pdated May 10, 2012, 11:00 p.m. ET

I AM a little surprised at this tidbit from the NY Times:

Questions over whether banks have been engaging in such trading for themselves while calling it “market-making” or “hedging” came into focus last month, when the reports emerged that a trading unit of JPMorgan in London was taking such large positions in the name of hedging that they were distorting the market.

How can a major market force "distort" the market?