Now Dimon is in a pitched battle with federal banking regulators over their proposed new rules that would make JPMorgan Chase hold more capital against its riskiest trading positions. (This is, after all, the bank that secretly used deposits from its federally-insured Chase Bank to gamble in derivatives in London and lose $6.2 billion. The notorious scandal, known as the "London Whale," occurred just two years after Congress had passed the Dodd-Frank financial reform legislation in 2010 — legislation that was supposed to rein in the reckless activities of the Wall Street mega banks which had brought on the worst financial crash in the U.S. in 2008 since the Great Depression of the 1930s.)