Posted on 05/11/2012 11:10:01 AM PDT by Kartographer
The issue isn’t that they made a bad trade and lost $2 billion. The issue is that less than a month before announcing the $2 billion loss (which, by the way, will likely end up being more than $2 billion, possibly much more), when rumors started flying around the market about the bad trade, Jamie Dimon publicly called it a “tempest in a teapot.”
The issue the SEC is going to be looking at more than anything else is whether Dimon knew (or should have known) the likely severity of the losses when he downplayed the issue.
Where have they been since Carter?
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