Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Moon Shot From JPMorgan's Dimon Is Day's Money Quote

JPMorgan Chase CEO Jamie Dimon during testimony today before the House Financial Services Committee.
Chip Somodevilla
/
Getty Images
JPMorgan Chase CEO Jamie Dimon during testimony today before the House Financial Services Committee.

The top news from Capitol Hill testimony today by JPMorgan Chase CEO Jamie Dimon is that he says "the bank did its best to fully inform investors about its risk strategy several weeks before it suffered a $2 billion-plus trading loss," The Associated Press reports.

But the quote from him that seems to be getting the most attention came in response to a question from Rep. Sean Duffy, R-Wis., who wanted to know if the bank could ever lose "a half a trillion dollars or a trillion dollars?"

"Not unless this earth is hit by a moon," Dimon quipped.

Rep. Sean Duffy and JPMorgan CEO Jamie Dimon

Some of our earlier coverage of the JPMorgan news:

-- JPMorgan Execs Who Bungled Billions May Have To Return Bonuses, Stock.

-- Dimon Will Tell Congress JPMorgan 'Let People Down' With Trading Loss.

-- JPMorgan Knew Of Risks, 'WSJ' Reports.

-- As Feared, JPMorgan's Losses Are Growing; Reportedly At $3 Billion.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

Mark Memmott is NPR's supervising senior editor for Standards & Practices. In that role, he's a resource for NPR's journalists – helping them raise the right questions as they do their work and uphold the organization's standards.
KUER is listener-supported public radio. Support this work by making a donation today.