Jamie Dimon, JPMorgan’s CEO, testifying last summer before the House Financial Services Committee about his bank’s sudden $6 billion loss. (Jacqueline Martin/AP)

Jamie Dimon, JPMorgan’s CEO, testifying last summer before the House Financial Services Committee about his bank’s sudden $6 billion loss. (Jacqueline Martin/AP)

Some four years after the 2008 financial crisis, public trust in banks is as low as ever. Sophisticated investors describe big banks as “black boxes” that may still be concealing enormous risks—the sort that could again take down the economy. A close investigation of a supposedly conservative bank’s financial records uncovers the reason for these fears—and points the way toward urgent reforms.

FRANK PARTNOY AND JESSE EISINGER, JAN 2 2013, 5:38 PM ET

http://www.theatlantic.com/magazine/archive/2013/01/whats-inside-americas-banks/309196/