Think the announcement made earlier this week of Dimon leaving the NY Fed… is a coincidence? They always knew this was coming and this is a load of crap!
He also blamed the employees.
Bloomberg-
JPMorgan Chase & Co. (JPM)’s board will consider releasing an internal report next week that faults Chief Executive Officer Jamie Dimon’s oversight of a division that lost more than $6.2 billion on botched trades, according to two people with direct knowledge of the matter.
The final report, which builds on a preliminary analysis released in July, is critical of Dimon, 56, former Chief Financial Officer Doug Braunstein, 51, former Chief Investment Officer Ina Drew and others for inadequately supervising traders in a U.K. unit that built up a large and illiquid position in credit derivatives last year, these people said.