As for what comes next, Dimon said the firm is addressing the issues that led to the blunder, like requirements and more specific limits that should have applied to the portfolio but were either skirted or ignored.

FORBES: Jamie Dimon: What I Learned From The London Whale

Important: Make sure you have specific price limits on the price to buy the stocks when the market gasps and drags them down.

FORBES: Lessons From The Aborted Fiscal Cliff Drop And Seven Stocks For The Next Doomsday Debt-Ceiling Scenario

The Federal Communications Commission limits cell phone radio frequency energy emissions, called the specific absorption rate (SAR), at 1.6 watts per kilogram, as measured over one gram of tissue.

CNN: Scientists debate possible cell phone link to brain cancer

As long as the FCC fails to inject major amounts of spectrum into the marketplace, or strongly hints that future spectrum could be off limits to carriers with specific spectrum portfolios, the agency leaves companies facing capacity shortages in the near term with no solution other than secondary market purchases or to raise retail prices.

FORBES: Time For The FCC To Auction Off More Wireless Spectrum

Now, under the current Tax Code, Section 6103 limits disclosure of taxpayer information except under specific circumstances.

FORBES: IRS, Police Consider Sharing Info as Tax Fraud Increases

Trip-cancellation and interruption policies are very specific in the definition of perils they cover, under what circumstances and to what limits.

WSJ: Is Travel Insurance Worth the Cost?

Before specific limits are set on U.S. forces, it should complete the review.

WSJ: Arms Control Amnesia

The trick is writing software and algorithms that tackle industry-specific problems, such as flight scheduling that keeps pilots below flying limits and financial models that account for the cost of currency exchanges.

FORBES: From nuclear bombs to net assets