Detailed text transcripts for TV channel - FOXNEWS - 20120515:15:08:00
Adam? >> reporter: jon, that is correct. there are protesters behind me but not many. only eight showed up. far more shareholders inside the meeting. about 100 listening to jamie dimon explain the $2 billion loss and he went on to say that the bank believes in what they call the volcker rule the we agree with the intent of the volcker rule which would prohibit banks like jpmorgan chase from proprietary trading. essentially trading in their own accounts for profit but the problem is what they did to lose $2 billion wasn't necessarily proprietary trading but hedging. mr. dimon says we seed need ...
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