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
2. Not All Bad
To wrap it up, we are not proud of this moment but we are proud of the company. We (are) not making light of this. We think is an isolated event...we shot ourselves in the foot, but that's one reason for capital.
— Jamie Dimon
Source: Wall Street Journal
