JPMorgan shares tanked with the news of their $2 billion loss:
JPMorgan Chase & Co lost $15 billion in market value and a notch in its credit ratings on Friday while a chorus of regulators and politicians reacted to its surprise $2 billion trading loss by demanding stiffer oversight for the banking industry.
The loss by one of Wall Street’s most respected banks embarrassed chief executive Jamie Dimon, a leader lauded for steering his bank through the fallout from the 2008 financial crisis without reporting a loss.
“We know we were sloppy. We know we were stupid. We know there was bad judgment,” Dimon said in an interview with NBC television to be broadcast on “Meet the Press” on Sunday.