Dimon’s JP Morgan announces $2 billion in trading losses!
An outspoken opponent of the Volcker Rule and other banking and financial regulations, Jaime Dimon, CEO of the nation’s biggest bank, discloses the huge losses and proves the need for more comprehensive banking oversight.
Touted as the brilliant banking executive who avoided the ravages of the financial crisis, has Dimon now become the poster boy for stronger regulation?
The scandalous nature of this trading loss, which may grow to over $4 billion, has undeniably tarnished Dimon’s star.
But this isn’t the first scandal at JP Morgan!