On NBC’s Meet The Press, JPMorgan Chase chief Jamie Dimon took responsibility for his company’s $2 billion trading loss, admitting “we made a terrible, egregious mistake and there’s almost no excuse for it.”
“I was dead wrong when I said that,” Dimon said of his earlier remarks dismissing the issue as a “tempest in a teapot.” He said the organization became “very defensive” early on.
“We know we were sloppy. We know we were stupid. We know there was bad judgment,” he said.
Dimon said the company will nevertheless make a lot of money next quarter and welcomed regulators to look into whether JPMorgan Chase violated any rules.