3 ms·

One half of quarterly profits is a pretty big fraction. Exec resignations & the CEO apologizing doesn't sound like a lot of people are very accepting of the ri

• encoderer 14y ago
  Days after the story broke shareholders had an opportunity to replace Dimon as the chairman and reducing his comp package -- leaving him with the CEO title. They overwhelming voted not to. It's a big fraction, but it's just one quarters profits. It's not the destabalizing, company-breaking amount of money some people make it out to be. JPMorgan has over a trillion dollars in assets on its books. The chicken-little nature of this has been a little silly I think.
  • Klinky 14y ago
    Most shareholders had cast their ballot way before the loss was reported. JPMorgan is not out of the woods, they have to unwind their positions to an unfriendly market. This ordeal may also make them more risk adverse, but possibly less profitable in the short-term. Less profits, more losses, isn't going to make people very happy. I don't think it's the end of JPMorgan, but acting like they have $3 - $5 billion in the couch cushions doesn't sound very rational either.