By Maureen Farrell @CNNMoneyInvest June 19, 2012
NEW YORK (CNNMoney) — JPMorgan Chief Executive Jamie Dimon was quick to fight back Tuesday after five top banking regulators pointed fingers at the bank and its top executives for JPMorgan’s multi-billion trading loss.
“We are not too big to fail,” said Dimon. He later added: “There are huge benefits to size. We were ports in the storm because of our size.”
JPMorgan’s trading loss was caused by “serious risk management weakness or failures” at the bank, Thomas Curry, the comptroller of the Office of the Comptroller of the Currency, told members of Congress during testimony before the House Committee on Financial Services.