In a surprise announcement, JPMorgan announces large trading loss

Posted by Kendall Harmon

[CEO Jamie] Dimon said the losses were caused by "errors," "sloppiness" and "bad judgment."

"This was a unique thing we did," Dimon said. "Obviously it had a lot of problems. It was a bad strategy. It became more complex, it was poorly managed."

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Filed under: * Culture-WatchPsychology* Economics, PoliticsEconomyCorporations/Corporate LifeStock MarketThe Banking System/Sector* TheologyEthics / Moral Theology

Posted May 10, 2012 at 4:58 pm

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1. TomRightmyer wrote:

Does Morgan do the CPF trading?  J P was active at St. George’s in New York City and a heavy contributor when the CPF was started about 90 years ago.

May 10, 9:35 pm | [comment link]
2. Yebonoma wrote:

To paraphrase Mr. Miyagi - “Risk on, risk off” Dimon-san.

May 11, 5:53 am | [comment link]

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