Dimon Says JPMorgan Loss Gives Ammunition to Regulators
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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he was “dead wrong” in initially dismissing news reports scrutinizing trades that led to a $2 billion loss and that it gives ammunition to proponents of tighter regulations.
“This is a very unfortunate and inopportune time to have this kind of mistake,” Dimon said in an interview broadcast today on NBC’s “Meet the Press.” After news broke on the magnitude of the bank’s bets, “we got very defensive, and people started justifying everything we did,” he said.