Bloomberg News

JPMorgan's ‘Egregious Mistakes’

May 11, 2012

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the firm suffered a $2 billion trading loss after an “egregious” failure in a unit managing risks, jeopardizing Wall Street banks’ efforts to loosen a federal ban on bets with their own money. (Source: Bloomberg)

Running Time: 02:07

May 11 (Bloomberg) -- JPMorgan Chase Co. Chief Executive Officer Jamie Dimon said the firm suffered a $2 billion trading loss after an “egregious” failure in a unit managing risks, jeopardizing Wall Street banks’ efforts to loosen a federal ban on bets with their own money. (Source: Bloomberg)

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