Discussing JPMorgan Chase’s lost $2 billion loss, CEO Jamie Dimon said on Meet the Press Sunday that “we made a terrible egregious mistake” and “there’s almost no excuse for it.”
JPMorgan Chase this week announced that the bank had lost $2 billion by taking flawed positions betting on the economy. On Sunday, Dimon reiterated some of the regrets he had articulated earlier in the week.
“In hindsight, we took far too much risk,” he said Sunday. “The strategy we had was badly vetted. It was badly monitored.”
Dimon also said that despite the massive loss, the bank was not in financial trouble as a result. “This is not a risk which is life threatening to JPMorgan,” he said. “We’re still gonna earn a lot of money this quarter.”
