JPMorgan Chase’s CEO Takes Responsibility for Losing $2 Billion. Doesn’t Blame it on Uncle Billy Misplacing the Money.
HuffPo — The CEO of JPMorgan Chase, which disclosed a $2 billion loss last week, said he was “dead wrong” when he dismissed concerns about the bank’s trading last month. CEO Jamie Dimon said he did not know the extent of the problem when he said in April that the concerns were a “tempest in a teapot.” After the bank reported the trading loss, investors shaved almost 10 percent off the bank’s stock price. “We made a terrible, egregious mistake,” Dimon said in an interview that aired Sunday on NBC’s “Meet the Press.” `’There’s almost no excuse for it.”
MovieQuoter has obtained surveillance camera video of Dimon explaining the situation to his shareholders:
Dimon went on to explain that the plan going forward is for JP Morgan Chase to put Mama Dollar and Papa Dollar in the safe and tell them to have a family real quick.