It could have been worse for JP Morgan and its CEO Jamie Dimon: The New York Times might have broken the story on some other day, like when readers weren’t on red alert for today’s Supreme Court ruling on health care. In any event, Jessica Silver-Greenberg and Susanne Craig broke the news this morning that the JPM loss that was supposed to be only $2 billion (aka, the “tempest in a teapot” loss) might wind up being $9 billion. You can read that article here.
I wrote about Dimon in my column “JPMorgan’s Dimon Goes From ‘Least-Hated’ to ‘Most-Embarrassed’” for TheStreet.com in May, calling Dimon “Wall Street’s most cooed-over magazine cover boy.” (I should note that I’ve never seen any cooing over Dimon by Craig, a refreshing exception among financial writers). I’ve seen a lot of top execs get fawned over by business writers over the years, but the adulation of Dimon has for a long time been over-the-top. You can read that story here.
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