The business networks have been in overdrive after J.P. Morgan revealed a $2 billion loss at a London trading unit yesterday. During a live special report last night on Fox Business, Charlie Gasparino reported he talked to CEO Jamie Dimon after the news broke.
“I find him to be refreshingly frank, and that’s essentially what he was,” Gasparino said of the conversation. “He said, ‘listen, we screwed up.'” Watch:
FBN also preempted “Imus in the Morning” today for a special report on the J.P. Morgan news.
Dimon acknowledged on a conference call yesterday that the losses were “somewhat related” to a single London-based trader nicknamed “the London whale,” who was making large bets on credit derivatives. Bloomberg TV’s Stephanie Ruhle broke that story in April.