The investment bank's $2 Billion "Bad Bet" has blossomed to a staggering $5 Billion as it unwinds, and industry observers predict it could continue to grow. In a dramatic quarterly earning report, JP Morgan CEO Jamie Dimon got a grilling from financial reporters compared to his appearance before Congress last month. Here are some of the most dramatic quotes from this morning's conference call.
July 13, 2012
1. Ch-ch-changes
CIO will no longer trade a synthetic credit portfolio and will focus on its core mandate of conservatively investing excess deposits to earn a fair return.
— Jamie Dimon.
Source: Wall Street Journal
