After the financial crisis of 2008, regulators focused on the idea of disclosure to prevent further problems in the financial industry. But what happens when the bank itself doesn't know how bad things are?
As more details emerge about JP Morgan's money-losing "London Whale" trade, the goalposts are moving fast and it's harder than ever to explain what's going on.
Jamie Dimon is facing shareholders at the bank's annual meeting in Tampa. It's a good bet there will be some tough questions about the $2 billion the bank lost on some big bets that turned bad.
In Tampa, Fla. today, there's a JPMorgan Chase shareholder meeting going on. Not a great time for CEO Jamie Dimon to face shareholders, given the $2 billion trading loss he announced last week.
JPMorgan Chase CEO Jamie Dimon faces shareholders tomorrow after the announcement of a $2 billion loss. He'll most likely get to keep his 2011 pay package, but expect changes in leadership elsewhere in the company.