i m wolf blitzer. you re in the situation room. first it s today s new round of attack in the presidential race campaign and the much winning battleground state of ohio this afternoon. president obama slammed the tax proposals, warninging they ll send thousands of u.s. jobs overs overs overseas. > the romney campaign is accusing them of another dishonest attack. why did the president level this new corporate tax attack on romney in ohio? reporter: well, wolf, the president is trying to draw sharp contrast between his campaign and romney s campaign, trying to suggest romney is looking out for the people at the the very top. specifically in ohio the people are making the argument that romney supports are eliminating tax. this will lead to job creations overseas. and that will come at the expense of jobs in ohio. we have not found any serious economic studies that the economic plan would actually create jobs until today. i ve got to be honest. today we found out there
it is $5.8 billion and counting. that s how much the nation s biggest bank said it lost so far from a complex trading scheme that was supposed to hedge against risk. the updated figures came in as the ceo jamie dimon personally briefed analysts on second quarter earnings which still managed to beat expectations. team coverage this morning, alison kosik live at the new york stock exchange to explain how this could impact all of our wallets. let s start with felicia taylor. you re at jpmorgan chase headquarters in new york. we have a healthy bank, o do we have a healthy bank i guess judging by overall earnings? reporter: actually, we do. the point is let s look at the numbers and what we know now as a result of that risky trade. as you mentioned, a $5.8 billion loss. nevertheless, the company was able to absorb the losses and make $5 billion in the second quarter. so when you talk about the health of the bank, no question about it, they had earnings that outpaced expectation.
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