Friday, May 11, 2012

JPMorgan Chase Says CIO Unit Suffered $2B ‘Significant’ Loss, CEO Blames Bad Monitoring

What summarizes JP Morgan Chase conference call below best:

A) Hubris

B) Greed

C) Stupidity

D) Moral Hazard

E) All of the above?

 Listen to the entire conference call:

According to JPMorgan Chase conference call, JP Morgan Chase lost $2 billion in 6 weeks. Dimon stated there will be more losses in next quarters.

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