Thursday night he held an analyst conference call to acknowledge the loss. He admitted there could be further losses, impacting the company’s second quarter results due out later this year.
Dimon also spoke to the media that night, reportedly telling them, “The portfolio has proved to be riskier, more volatile and less effective as an economic hedge than we thought. There were many errors, sloppiness and bad judgment.”
On Friday, he taped an interview with NBC’s national Sunday morning show, Meet the Press. He told host David Gregory, “we made a terrible egregious mistake” and called JPMorgan “sloppy” and “stupid.” Perhaps most interesting is that Dimon had already been interviewed for the episode of Meet the Press – the day before announcing the loss. He sat for another interview after the announcement, and apologized to Gregory.