The One Thing Jamie Dimon Got Right This Week
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About two-thirds the way through JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon’s stunning May 10 conference call, in which he announced that the hedging strategy originating in the firm’s vaunted “chief investment office” had cost the firm $2 billion, he seemed to hit his stride.
“It is very unfortunate,” he said, “this plays right into the hands of pundits out there. But we have to deal with it.”