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JPMorgan boss: I was 'dead wrong'
Jamie Dimon, the head of JPMorgan Chase, testified before the Senate Banking Committee on Wednesday, and faced questions about a huge $2 billion trading loss that the bank was humiliated by in May. Dimon apologized, saying he was "dead wrong" to dismiss critics who said risky trades might blow up in the bank's face, but also remained unbowed in his conviction that President Obama's overhaul of the financial regulatory system is a bad law.
 
Jamie Dimon, chairman and chief executive of JP Morgan Chase and Co, attributes his firm's $2 billion loss to "errors, sloppiness, and bad judgment."
Jamie Dimon, chairman and chief executive of JP Morgan Chase and Co, attributes his firm's $2 billion loss to "errors, sloppiness, and bad judgment."
REUTERS/Keith Bedford

J

amie Dimon, the head of JPMorgan Chase, testified before the Senate Banking Committee on Wednesday, and faced questions about a huge $2 billion trading loss that the bank was humiliated by in May. Dimon apologized, saying he was "dead wrong" to dismiss critics who said risky trades might blow up in the bank's face, but also remained unbowed in his conviction that President Obama's overhaul of the financial regulatory system is a bad law.
 

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