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
3. He's Got High Hopes
I hear from ... some other banks, [that there's] small business loan growth. The fact is the economy isn't that bad for corporate America, middle market companies, small business are okay. There's a lot of liquidity. Sales are showing modest growth, we are starting to see in our calculations. Some of what we get is market share gains.
— Jamie Dimon asked why the loan growth and economic comments sound so positive when the economy doesn't.
Source: Wall Street Journal
