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JP Morgan Chase CEO Denies That Growing Trading Losses Prove His Bank Is Too Big To Manage
JP Morgan Chase CEO Jamie Dimon held a conference call today to announce the bank’s latest earnings and address the mounting losses from the so-called “London Whale” trade. So far, the bank’s losses from that trade total nearly $6 billion, and could be headed north to $9 billion. During the call, one analyst asked Dimon [...]
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Dimon On Whether JP Morgan’s $2 Billion Loss Proves Banks Are Still Too Risky: ‘I Don’t Think So’
JP Morgan Chase CEO Jamie Dimon this week announced that the bank he heads lost $2 billion making risky trade under the guise of “hedging” (which is meant to reduce risk). Dimon has been one of the biggest critics of the Volcker Rul... Read Post
JP Morgan CEO Called To testify Before Congress On $3 Billion Trading Mess
The Senate Banking Committee plans to call JP Morgan Chase CEO Jamie Dimon to testify following the bank’s $3 billion trading loss. “Over the past week, my staff and Ranking Member [Richard] Shelby’s staff have jointly held briefing... Read Post
JP Morgan Loses $2 Billion On Risky Trade After Lobbying To Weaken Trading Restrictions
JPMorgan Chase CEO Jamie Dimon announced on a conference call yesterday that the bank suffered $2 billion in losses from a risky trade that turned sour. The trade dents Dimon’s case that Wall Street can responsibly manage itself and... Read Post