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Fallout after JP Morgan's $2 Billion Loss

One of Wall Street's most powerful women, Ina Drew, resigned as chief investment officer at JP Morgan Chase today, taking responsibility for the firm's $2 billion loss. Yesterday, CEO Jamie Dimon told Meet the Press , "We think Dodd Frank, which we supported parts of, gave the FDIC the authority to take down a big bank.

By Steve Chiotakis • May 12, 2014 • 1 min read

One of Wall Street's most powerful women, Ina Drew, resigned as chief investment officer at JP Morgan Chase today, taking responsibility for the firm's $2 billion loss. Yesterday, CEO Jamie Dimon told Meet the Press, "We think Dodd Frank, which we supported parts of, gave the FDIC the authority to take down a big bank. And when it happens,…the board should be fired, the equity should be wiped out, the bank should be dismantled and the name should be buried in disgrace….This is a very unfortunate and inopportune time to have had this." Reporter Ezra Klein writes the Wonkblog at the Washington Post.

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