May 13 JPMorgan Chase & Co CEO Jamie
Dimon said his bank reacted badly to warning flags last month
that it had large trading losses in complex financial
derivatives, according to a transcript of an interview broadcast
on Sunday on NBC's "Meet the Press" television program.
Dimon said bank executives were "completely wrong" in public
statements they made in April after being challenged over the
trades in media reports.
"We got very defensive. And people started justifying
everything we did," Dimon said. "We told you something that was
completely wrong a mere four weeks ago."
On Thursday Dimon announced that the bank, the biggest in
the United States by assets, had lost $2 billion or more
mishandling a portfolio of derivatives.
(Reporting by David Henry in New York; Editing by Anthony