Dimon - 'London Whale' Trade Could Still Lose More Money

Jamie Washington

JPMorgan Chase could still lose more money on investments from its London Chief Investment Office even though the bank has 'mostly fixed' the problem, CEO Jamie Dimon said (Bloomberg).

Reuters reports that Dimon said at an investor conference Tuesday that it would take a 'couple of years' to break up a big bank, and that 'there are huge benefits to size'.

The New York Times also reported Dimon's concerns over the implementation of the Volcker Rule. Dimon said that his bank was going to 'wait and see' how it impacted the firm. He said that it was important that the rules did not undercut American banks’ ability to compete abroad.

'If the American law applies overseas to us but not to them, we can lose all the business', he said.

Dimon Says ‘London Whale’ Trade Could Still Lose More Money

JPMorgan Chase CEO dimon: would take "couple of years" to break up a big bank

Dimon Defends Big Banks

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