The professor makes some excellent points about the real world of finance that bear some serious thought. He certainly left the Bloomberg spokesmodels yammering in search of a sound byte.
He misses a key point however. It is not that Jamie Dimon does not know, or even that he cannot know, about the risky speculation in his firm. It is that the system is so designed now that in the long run he is heavily incented not to care, as long as he can maintain a plausible deniability. There are management controls, policy, and objectives that flow down from the top in any large corporation. Dimon had a personal hand in recrafting the CIO to do what it was doing in order to sidestep the Volcker Rule. This was no rogue operation.