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JPMorgan (JPM -4.1%) fights speculation its CIO loss could reach $9B by leaking its own...

JPMorgan (JPM -4.1%) fights speculation its CIO loss could reach $9B by leaking its own expectations it'll be between $4B-$6B, reports Kate Kelly. That amount is still significantly higher than the $2B originally reported by Jamie Dimon last month. The lines are drawn. Earnings are set for July 13.
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Comments (6)
  • Summer Sea
    , contributor
    Comments (94) | Send Message
     
    While they have Jamie Dimon in Washington, the group should ask him how much insurance coverage he has on millions of defaulted mortgages he refuses to modify. How he's able to over insure home mortgages, some up to 3x's their value, without a slap on the wrist, then sell the defaulted property for more profit! Losses? You really think JD is going to tell the gov. about his PROFIT!! The guy is a master..you can believe that.
    Would sure like to know who the heck is insuring these defaults for JPM.
    28 Jun 2012, 01:23 PM Reply Like
  • Jan Von Braun
    , contributor
    Comments (69) | Send Message
     
    If someone has a defaulted mortgage that they can't pay, that is often their own fault. Dimon's legal obligation is to make money for shareholders, not subsidize people who bought houses that were too expensive for their situations.
    28 Jun 2012, 04:49 PM Reply Like
  • Articuno
    , contributor
    Comments (99) | Send Message
     
    The master Dimon has lost his luster; he was known for his straight talk...now he pretends to not have been aware of $100B trades, that they were merely a failure of monitoring and accountability.
    29 Jun 2012, 01:57 AM Reply Like
  • Articuno
    , contributor
    Comments (99) | Send Message
     
    Many realize that Banks make a good portion of their profits today by trading in the markets. Without this widespread practice, the Lehman domino effect couldn't have happened and threatened the whole financial infrastructure.
    29 Jun 2012, 01:58 AM Reply Like
  • Summer Sea
    , contributor
    Comments (94) | Send Message
     
    fraud is fraud....no one should be able to over insure anything. I take it you've never lost a home in a fire or natural disaster.
    29 Jun 2012, 09:26 PM Reply Like
  • deercreekvols
    , contributor
    Comments (6623) | Send Message
     
    $2B, $4-6B, $9B, take your pick. JPM's Jamie Dimon has proven that he is not the smartest person in the room. The smartest people in the room don't get themselves into situations they can't get out of in a hurry.

     

    Congress may want to check Mr. Dimon's testimony. If you are going to bring Roger Clemens to trial, where the he'll is Jamie Dimon's subpoena? Bring Jon Corzine in while you are at it.

     

    These folks are no better or more privileged than the average Joe working for minimum wage. The sooner the buffoons in Congress recognize this fact, the better for everyone.

     

    Where is Jon Corzine?
    28 Jun 2012, 05:05 PM Reply Like
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