Hot Remarks From JPMorgan's Earnings Call
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.
July 13, 2012
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