Detailed text transcripts for TV channel - MSNBC - 20120514:14:23:00
News. jpmorgan's $2 billion loss ahead of the bank jamie dimon is under fire. looks like we will see the chief investment officer drew resign. what's this mean for people seeing these headlines back at home? >> not a lot at the moment. it means that jpmorgan's risk controls were not terribly good in their chief investment office where they put to work money that's going currently, $360 billion. presumably they were hedging their risks in the european debt markets. now, when your hedge costs you more than $2 billion, it may not really be a hedge. it raises a couple of questions. one, was the ba...
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