June 11 Jamie Dimon, the chief executive of
JPMorgan Chase & Co who won a strong vote of confidence
from shareholders last month, on Tuesday defended the
disclosures the bank made last year about its unfolding London
Whale derivatives loss.
"We did everything that we thought was the right thing to
do," Dimon said in response to a question about the episode at
an investor conference in New York.
Dimon repeated his earlier apologies for the loss that he
had mistakenly called a "tempest in a teapot" one month before
the company disclosed in May 2012 that it had lost more then $2
billion on the trades.
But Dimon forcefully added that bank officials had properly
described the situation as they knew it at the time.