Dimon Says He Was ‘Dead Wrong’ in April About Trading Loss

JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon said he was “dead wrong” in April when he dismissed reports about trading losses as a “tempest in a teapot.”

Dimon made the comment today to the Senate Banking Committee.

To contact the reporter on this story: Dawn Kopecki in Washington at dkopecki@bloomberg.net;

To contact the editors responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net; David Scheer at dscheer@bloomberg.net