Dimon on CIO activities: JPM has suffered a $2B loss in the synthetic credit portfolio. "The...

|By:, SA News Editor
Dimon on CIO activities: JPM has suffered a $2B loss in the synthetic credit portfolio. "The strategy was flawed ... There were many errors, sloppiness, and bad judgment ... risk managers are fully engaged in helping to monitor the current portfolio." He goes on to say volatility could remain high over coming quarters and could cost the bank another $1B.