The Truth Behind What JPMorgan's Jamie Dimon Said, Facebook Goes Public
Thursday, May 17, 2012
JPMorgan Chase’s CEO Jamie Dimon called concerns about a massive trading bet a “tempest in a teapot” last month.
Now that it’s cost the bank more than $2 billion and counting, Dimon has admitted he was “dead wrong” to have made that statement.
Some shareholders, however, say he was worse than wrong; he was deceptive. And they’re suing. The question of culpability hinges on where the legal line is draw, and how much bluster is too much.
Plus: As Facebook goes public, it will set a record with a valuation of $100 billion. A look at whether being Facebook’s friend is worth it.