JPMorgan Makes Groupon’s Disclosures Look Good: Jonathan Weil
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Who are you going to believe? Jamie Dimon? Or your own eyes?
With the benefit of hindsight, anyone can see there must have been something amiss with the way JPMorgan Chase & Co. put together some of the disclosures for its first-quarter earnings release on April 13. The press release contained inaccurate data about the market risks at the bank’s chief investment office, which was the source of the mysterious $2 billion trading loss that JPMorgan divulged this month.