Reply #63: Dimon Says Risk of $3 Billion in European Losses Worth Taking for JPMorgan

[Demeter]

WHY NOT? HE CAN AFFORD IT OUT OF HIS POCKET CHANGE NOW

http://www.bloomberg.com/news/2011-04-07/dimon-says-risk-of-3-billion-in-european-losses-worth-taking-for-jpmorgan.html



JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon said potential rewards of investing in five European nations including Greece and Ireland outweigh the risk of losing $3 billion if the countries default.

“In the unlikely occurrence of extremely bad outcomes in all these countries, JPMorgan Chase ultimately could lose approximately $3 billion,” Dimon said today in a letter to shareholders. “But we are in the business of taking risks in support of our clients and believe that this is a risk worth bearing since we hope to be growing our business in these countries for decades.”


NOT THAT JAMIE WOULD BE PLANNING TO PERSONALLY COVER THOSE LOSSES...