It was a scenario many have imagined: Retiring to a lonely beach in Mexico after a few minutes of a heart-pounding crime — like Bonnie and Clyde riding into the sunset with a good stash of money attained through a handful of bank heists.
Along with saying, again, that his bank "let a lot of people down" when it lost more than $2 billion, JPMorgan Chase CEO Jamie Dimon added this prediction during his testimony before the Senate Banking Committee this morning:
"This portfolio morphed into something that, rather than protect the firm, created new and potentially larger risks. As a result, we have let a lot of people down, and we are sorry for it."
That's part of JPMorgan Chase President and CEO Jamie Dimon will tell the Senate's Committee on Banking, Housing and Urban Affairs tomorrow, when it looks into the botched trades that lost the bank $2 billion. Chase released Dimon's prepared remarks this afternoon.