Forum Post: Dimon Sees More Regulator Scrutiny After Whale Loss

The bet on credit derivatives that lost more than $6.2 billion was “extremely embarrassing, opened us up to severe criticism, damaged our reputation and resulted in litigation and investigations that are still ongoing,” Dimon said yesterday in a letter to shareholders. “We received regulatory orders requiring improved performance in multiple areas, including mortgage foreclosures, anti-money laundering procedures and others. Unfortunately, we expect we will have more of these.”

Dimon, 57, again accepted blame on the New York-based bank’s behalf for the mistakes and said he felt “terrible that we let our regulators down.” The loss was “the stupidest and most embarrassing situation I have ever been a part of.”

You see? And that folks is why he is richer than you. His coolness is so overwhelming