The investment bank's $2 Billion "Bad Bet" has blossomed to a staggering $5 Billion as it unwinds, and industry observers predict it could continue to grow. In a dramatic quarterly earning report, JP Morgan CEO Jamie Dimon got a grilling from financial reporters compared to his appearance before Congress last month. Here are some of the most dramatic quotes from this morning's conference call.
CIO will no longer trade a synthetic credit portfolio and will focus on its core mandate of conservatively investing excess deposits to earn a fair return.
— Jamie Dimon.
Source: Wall Street Journal
Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio