JP Morgan’s $2 Billion Loss Renews Calls for Bank Reform
Jamie Dimon CEO of JP Morgan has been fighting a pitched battle against bank reforms for the better part of his career. With the recent $2 billion JP Morgan betting loss, he's having a hard time trying to spin an excuse that will appease a fed up public.
[AP] JPMorgan Chase faced intense criticism Friday for claiming that a surprise $2 billion loss by one of its trading groups was the result of a sloppy but well-intentioned strategy to manage financial risk.
[AP] But Dimon's contention that the $2 billion loss came from a hedging strategy that backfired, not an opportunistic bet with the bank's own money, faced doubt on Friday, if not outright ridicule.
Do you beleive that Jamie Dimon has good intentions?
Read Full Associated Press Article
Posted by Editor on 05/13/12 at 03:32 PM •
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