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Jamie Dimon Takes His London Whale Apology Tour to Davos

by 24/7 Wall St. Jan 23rd 2013 6:48AM
Updated Jan 23rd 2013 8:40AM

JPMorgan_logoJamie Dimon's never-ending explanation of the "London whale" debacle and his round-the-world tour to apologize continued at the World Economic Forum in Davos.

Reuters reports:

JPMorgan Chase & Co Chief Executive Jamie Dimon apologized to shareholders for the $6 billion loss caused by the so-called "whale" trade, calling it a "terrible mistake," but said the bank has moved on and is still highly profitable.

"If you're a shareholder of mine, I apologize deeply," Dimon said at a presentation at the World Economic Forum in Davos, Switzerland. "But we had record results and life goes on."

Despite a $6.2 billion loss from bad trades in JPMorgan's chief investment office last year, the bank still managed to earn a record $21.3 billion in 2012.


Filed under: 24/7 Wall St. Wire, Corporate Governance

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4 Comments

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babygrand3160

He needs to concentrate on the lousey workers he has right here in the US screwing up on all the mortgages, and improper escrow charges..My mortgage is always going up yet I called to check, and verifed.. my home owners hasn't gone up, and neither did my property taxes.. monthly payments for mortgage just keeps going up each year.. no explanation when I call asking.. then I finally was told in December after explaining that I knew it was not right..they said they would look into it in escrow..the following day they called me, and said that there was found to be a $900.00 escrow mistake overage, and I would be reimbursed, and the monthly payment would be adjusted properly.. They were to send the refund along with new payment amount in 7 - 10 days. My new $1,600 payment began as of Jan 2013.. so of course I paid it.. I never got anything from them by January as I was told..so I called back to follow up last week.. Now they changed it, and are saying the numbers are right, and there is no overage!! My house payment jumped from $1,424.. to $1,492.. to $1,540.. to now $1,602 for the last 3 years when my taxes or insurance have not gone up a stitch or were accounted for by me paying requested amount until this year when they wanted another $400.00 in December!! For what?? The Rep told me 2 escrow people checked the numbers, and they were incorrect.. You tell me.. that is the worst bank ever!! and I've lived here 15 years!! I didn't get my mortgage with them.. I was just given Chase in 2004.. I had Countrywide, and was just switched over to make my payments to Chase.. I don't even know how I got Chase in the first place, but this is awful.. I have tried being nice to find out kindly what's going on over there, but this is just ridiculous. Something is very wrong there with that bank..

January 23 2013 at 8:05 PM Report abuse rate up rate down Reply
hsenpfeffer

He needs to take it to Leavenworth, Kansas; Marion, Illinois or Ossining, New York.....involuntarily.

January 23 2013 at 6:21 PM Report abuse rate up rate down Reply
rkeeeballs

...J P Morgan.....trying to save face....STUFF-IT !

January 23 2013 at 5:47 PM Report abuse rate up rate down Reply
AMERICASMUSEUM

Who pays for his trip?

January 23 2013 at 1:15 PM Report abuse rate up rate down Reply