Originally published Friday, July 13, 2012 at 4:57 AM
Dimon says bad trade shook JPMorgan 'to the core'
The head of JPMorgan Chase says the bank's trading blunder has "shaken our company to the core."
AP Business Writer
NEW YORK —
The head of JPMorgan Chase says the bank's trading blunder has "shaken our company to the core."
CEO Jamie Dimon tells Wall Street analysts that the bank still thinks the bad trade was an isolated event.
Dimon says: "We shot ourselves in the foot."
The bank says it lost $4.4 billion in the second quarter because of the loss. Overall, the bank earned $5 billion for the quarter.
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