1 percenters: $2 billion no big deal

[Guns Guns Guns]

JP Morgan Chief Executive Officer Jamie Dimon plans to testify before Congress this week about his firm’s $2 billion trading loss.

His Wall Street colleagues don’t understand why.

“Occasional losses are inevitable,” said Blackstone Group LP’s Stephen A. Schwarzman, 65, CEO of the largest private- equity firm. “Publicly excoriating JPMorgan serves no purpose...".

“I kind of shrug,” said Bill Archer, 58, a former co- chairman of Goldman Sachs Group...

Dimon, who averaged more than $1.9 million a month in salary and bonuses in 2010 and 2011, dismissed initial concerns and news reports as “a complete tempest in a teapot” on an April 13 call with analysts.

“I don’t think it’s a big issue,” BlackRock Inc. Chairman Larry Fink told CNBC June 7.

Steven Rattner, co-founder of private-equity firm Quadrangle Group LLC, mentioned his friendship with Dimon in a May 14 Financial Times commentary before calling the JPMorgan loss “small beer.”


http://www.businessweek.com/news/201...-27-billion#p2

[Cancel 2018. 3]

PAUL KRUGMAN: WASTING $1 BILLION ON SOLYNDRA REALLY NO BIG DEAL (VIDEO)

http://bluecollarphilosophy.com/2012...ig-deal-video/

troll fails again

[Cancel 2018. 3]

i predict the little troll will ignore the post because a liberal said it

watch

[Disillusioned]

JP Morgan Chief Executive Officer Jamie Dimon plans to testify before Congress this week about his firm’s $2 billion trading loss.

His Wall Street colleagues don’t understand why.

“Occasional losses are inevitable,” said Blackstone Group LP’s Stephen A. Schwarzman, 65, CEO of the largest private- equity firm. “Publicly excoriating JPMorgan serves no purpose...".

“I kind of shrug,” said Bill Archer, 58, a former co- chairman of Goldman Sachs Group...

Dimon, who averaged more than $1.9 million a month in salary and bonuses in 2010 and 2011, dismissed initial concerns and news reports as “a complete tempest in a teapot” on an April 13 call with analysts.

“I don’t think it’s a big issue,” BlackRock Inc. Chairman Larry Fink told CNBC June 7.

Steven Rattner, co-founder of private-equity firm Quadrangle Group LLC, mentioned his friendship with Dimon in a May 14 Financial Times commentary before calling the JPMorgan loss “small beer.”


http://www.businessweek.com/news/201...-27-billion#p2

What's he supposed to be testifying about? He's responsible to his shareholders not the government, that's why they call it private business.