dimon should resign. these my view. [ male announcer ] cookies with smooth caramel and chocolate. ♪ ♪ hmm twix. also available in peanut butter. [ kristal ] we're just taking a sample of all our different items in our festival of shrimp. the crab-stuffed shrimp are awesome! tequila lime tacos. [ man ] delicious! [ male announcer ] it's festival of shrimp! for $12.99 try any two shrimp creations like new barbeque glazed shrimp. offer ends soon. we're servers at red lobster. and we sea food differently. >> the happy index is up. higher than it's been in year. but don't tell the folks who are unit employed or whose homes are being foreclosed on. never mind that, we've never been this happy although i'm not sure i buy it. let's bring in dr. robbie ludwig. there is a poll done by gallup as legitimate of a group you get, that says we're happier than we've been in years when all the headlines are bad. >> my first thought was did they interview anybody in new york city because who is happy here? and i wondere

jay me dimon was it. >> that's what's so disheartening. you would like to think there would be somebody there you could say this is good. >> it's important to point out when chase is being hailed as good baker they had destroyed jefferson county alabama and a big rigging scandal for which they paid over a $100 million fine. they haven't had this kind of gigantic public scandal but they have been caught doing all kind of things. it hasn't gotten as much attention. >> you can't have $360,000,000,000 in excess deposits deposits which have been given to you by people to lend out into the economy and then refuse to lend those outed and send them off to london and call yourself a good banker. >> in a way, that may be the most important point. if we come back to what really matters, getting our disney going, you are saying they have taken this huge pipeline of deposits and instead of doing what we want and need bafrnlingdz to do, which is to lend to businesses to hire they are playing in the cansino. is there an answer to them? can we force them

jay me dimon was it. >> that's what's so disheartening. you would like to think there would be somebody there you could say this is good. >> it's important to point out when chase is being hailed as good baker they had destroyed jefferson county alabama and a big rigging scandal for which they paid over a $100 million fine. they haven't had this kind of gigantic public scandal but they have been caught doing all kind of things. it hasn't gotten as much attention. >> you can't have $360,000,000,000 in excess deposits, deposits which have been given to you by people to lend out into the economy and then refuse to lend those outed and send them off to london and call yourself a good banker. >> in a way, that may be the most important point. if we come back to what really matters, getting our disney going, you are saying they have taken this huge pipeline of deposits and instead of doing what we want and need bafrnlingdz to do, which is to lend to businesses to hire they are playing in the cansino. is there an answer to them? can we force them

morgan whale tale jamie dimon appears on a national network t.v. defending the bank and repudiating the notion that wall street is and has been bad . i think that your that's not true not everything holds true is bad but not all media is bad i like you you know i trust you are true you. write about even trying to make amends with the media industry he's criticized in the past we will decompose don't you worry the p.r. and tell you what the jamie dimon in the ego indicator may be telling us this is critics are saying diamond should go either from the board of the new york fed or from the top spot at the bank meanwhile in the euro zone more indication that debt junkies are unwilling to acknowledge the reality greek elections have unveiled for the first time arguably just how fragmented this is sayat he has become and how unpopular the bailout is beyond the riots we'd see politicians though they still can't cobble together a government in the country and the question is how much more broadly will we see the same problems play europe's economies as oth

jamie dimon. my question, if these banks are too big to fail, maybe they're too big and should be broken up. and for investors, king dollar is back. oil and gold are falling. should you be buying deflationary stocks? "the kudlow report," just moments away. >>> don't forget to watch jamie dimon on "meet the press" this sunday. remember, i do think he's honest. i think his firm is honest. my question is, can any really understand these positions? if jamie dimon can't, perhaps we have to rethink the whole notion of the financial engineering. and by the way, i think the government's very right to be very tough, and the volcker rule, yeah, what can i say? i say there's always a bull market somewhere, i promise to try to find it just for you. see you monday! larry, what are you looking at to close out the week? >> jimmy, your pal, bill clinton, called obama an amateur who doesn't know how to be president. >>> good evening, everybody. i'm larry kudlow. this is "the kudlow report." so get this, fascinatin

let me say something about jamie dimon as well. he's earned the respect as many people on wall street as being a straight shooter and i think there should be some credit for him being as candid as he has been, that they made a mistake, you're not hearing the double talk from ceos that you often times here. he's owning up to it. will the buck stop with him? undoubtedly so. the heads that will roll will not be jamie dimon, perhaps those running the derivative desk. i think jamie dimon will get over this. >> what would happen if he went away? >> unless we know more, unless this unfolds in a much more systemic clee negative fashion, he's probably earned, both from the board perspective and shareholder perspective, the right to have one massive, massive mess-up. but he certainly doesn't have the right and will not be granted that for a second one. and, look, he's got to know this. he's an intelligent man. i do think -- >> we want to continue this discussion after the break. >> okay. >>> the downgrade by fitch of p jpmorgan that just hap

this trading violates the dimon principle. >> and jamie dimon conceded that those losses were linked to a "wall street journal" report last month about a trader that had been nicknamed the london whale. the trader amassed an outsized position which hedge funds bet against. last month dimon called the coverage a complete tempest in a teapot. as for whether jpmorgan -- this becomes a broader issue for other banks, here's what jamie had to say. >> would this be a jpmorgan specific issue or is there a chance that others also have some losses on similar positions? >> just because we're stupid doesn't mean everybody else was. >> given jamie dimon has called this sloppiness, there are pour men at jpmorgan who could find their jobs on the line. a lot of people talking about he's names this morning. trader in london who put the trades together, he was going long or at least the view is he was going long on european bonds, corporate names. also michael cavanaugh, and john hoe began chief risk officer and cfo doug bronstein, last month on a call about this very subject said he was, quote, very

morgan whale tale jamie dimon appears on a national network t.v. defending the bank and repudiating the notion that wall street is and has been bad . i think that your that's not true not everything holds true is bad but not all media is bad i like you and i trust you are truly. what about is even trying to make amends with the media industry he's criticized in the past we will do don't you worry the p.r. and tell you what the jamie dimon in the ego indicator may be telling us this is critics are saying diamond should go either from the board of the new york fed or from the top spot at the bank meanwhile in the euro zone more indication that debt junkies are unwilling to acknowledge the reality greek elections have unveiled for the first time arguably just how fragmented this is science has become and how unpopular the bailout is beyond the riots we'd see politicians though they still can't cobble together a government in the country and the question is how much more broadly will we see the same problems play europe's economies as others run up aga

dimon may or may not lose his job. but why doesn't harry and everyone else look into the government agencies that are a bunch of black hole and i apologize for that rant. i feel like santelli. >> your keyboard didn't survive. washington responds to big headlines and big news. >> somebody has to be the scapegoat. >> we just saw this with the government with the gsa story. >> every corner fannie mae and freddie mac come to the taxpayer like this. more arms for the poor, sir. >> yeah. >> it was a bad accident but i'm sorry. you get my point. $7.8 million loss. fannie mae just did a couple of months ago, you know, and that's real money for the taxpayer. >> it is real money for the taxpayer. >> sorry. >> jamie dimon lost jamie dimon's money. >> bertha coombs, what have you got coming up? >> relation nal hedge fund is going to disclose the state this afternoon. when they follow the f-13 funds and one of the things that the firm is telling sources and telling "the wall street journal" is that they believe the north american b

dimon apologized again. he said that they will take corrective action, meaning people will probably lose their jobs. we put out a story today saying that they are considering calling back excess bonuses and stock grants from the, you know, the employees that were involved so they are looking at trying to reclaim some of the pay for people who were rewarded for good results that may not have actually been producing that. >> woodruff: there was a vote taken today on whether to strip dimon of his chairman of the board title. that did not pass. it got what? 40%. >> yes. it got about 40% of the vote which is about what it got last year. you have to remember that a lot of these votes were cast weeks ago, before this news came out. so a lot of the people that were voting on it had no idea what was going on at the time. so, you have to take the vote with a grain of salt but it did survive. dimon did say that is one thing that came out that was new. dimon did say that the board has decided that so far for now they st

dimon apologized again. he said that they will take corrective action, meaning people will probably lose their jobs. we put out a story today saying that they are considering calling back excess bonuses and stock grants from the, you know, the employees that were involved so they are looking at trying to reclaim some of the pay for people who were rewarded for good results that may not have actually been producing that. >> woodruff: there was a vote taken today on whether to strip dimon of his chairman of the board title. that did not pass. it got what? 40%. >> yes. it got about 40% of the vote which is about what it got last year. you have to remember that a lot of these votes were cast weeks ago, before this news came out. so a lot of the people that were voting on it had no idea what was going on at the time. so, you have to take the vote with a grain of salt but it did survive. dimon did say that is one thing that came out that was new. dimon did say that the board has decided that so fa for now they sti

jamie dimon can keep his job. but the f.b.i. has decided to look into that disastrous $2 billion loss in the bank's trading division. anthony mason picks up the story. >> reporter: security was tight around j.p. morgan's tampa, florida, campus. a small band of protesters was kept across the street from the annual meeting site where c.e.o. jamie dimon tried to explain the bank's $2 billion bad trade to shareholders. >> the bottom line is that however unfortunate this incident is, we want to do what we always do: admit our mistakes, learn from them and fix them. >> reporter: cameras were not permitted in the meeting, which was over in less than an hour, and some shareholders like peter skillern left less than satisfied. >> i still can't explain what went wrong other than that there was a lack of supervision and accountability. >> reporter: dimon survived a proposal to strip him of one of his jobs. he is both chairman of the board and c.e.o. of the bank. 40% of shareholders backed the move to take away his chairman's title. >> jami

jamie dimon might be good. but he cannot escape the environment where he is operating. >> all right. so let's get some reaction to jpmorgan and facebook in today's "closing bell" exchange. with us the man himself, mike mayo of clsa. also with us are bob pisani and rick santelli. mike, i'm going to start with you. we just ran that sound bite of you saying you would sell jpmorgan. now it looks like the loss will be bigger than $2 billion. and worrisome to me is whether or not jpmorgan is going to be able to unwind or exit some of the trades that were put on. given the move in the stock lately, i believe you still would sell the stock, certainly. but what is your outlook for it in the near future, given these latest developments? >> the $2 billion loss for a $2 trillion firm is just not that big a deal. jpmorgan has had $60 billion of losses. that's $60 billion of losses at jpmorgan. you know what that is for? that's for the prior three years due to making loans. >> but you know what is going to happen, mike. they

dimon has. i think what's salient here is whether or not they violated the spirit of the financial market reform. i think we have to look deeply into their trading operations. banks and brokers should be split up. but jamie dimon doesn't seem to me to be the culprit he's being made out to be here. >> let me talk about what happened before -- before financial reform. big rigging schemes, undisclosed payments to commissioners. i mean, the list is simply remarkable. >> mm-hmm. >> and this is a man who's never been a trader. never run -- been a front line manager for a trading operation. sitting on top of a $71 trillion derivatives book. >> well, we will leave it there. in fact, i think that he's known for having real, you know, close information and knowing what goes on in that trading desk of course this last incident flies in the face of all of that. but gentlemen, thank you. we'll continue the discussion. appreciate your time. be sure to tune in on monday. we will talk exclusively to two industr

jamie dimon says this violates the dimon trins billion. how would you define the dimon principle? let us know after this short break. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. [ male announcer ] the inspiring story of how a shipping giant can befriend a forest may seem like the stuff of fairy tales. but if you take away th

jamie dimon was it. that's what was so disheartening, you would like to think there is someone there that you can look at and say this is good. >> when chase was being held as this quote/unquote good bank they had destroyed counties and had been involved in scandals which they paid $100 million fine. they just had not this gigantic public scandal but they've been caught in doing all kinds of things. >> you can't have $360 billion in excess deposits, deposits which have been given to you by people to lend out into the economy and then refuse to lend those out and send them off to london and call yourself a good banker. >> eliot: in a way that might be the most important point, if we come back to what matters in getting our economy going. you're saying they've taken this huge pipeline of deposits, which is instead of doing what we want banks and need banks to do which is to lend it out, they put it in a casino. >> they're not just taking the deposits but the cheap, almost free money that they're getting in

dimon apologized again. he said that they will take corrective action, meaning people will probably lose their jobs. we put out a story today saying that they are considering calling back excess bonuses and stock grants from the, you know, the emplees that were invoed sohey are looking at trying to reclaim some of the pay for people who were rewarded for good results that may not have actually been producing that. >> woodruff: there was a vote taken today on whether to strip dimon of his chairman of the board title. that did not pass. it got what? 40%. >> yes. it got about 40% of the vote which is about what it got last year. you have to remember that a lot of these votes were cast weeks ago, before this news came out. so a lot of the people that were votg on it hadno idea wh was gng on at the te. so, you have to take the vote with a grain of salt but it did survive. dimon did say that is one thing that came out that was new. dimon did say that the board has decided that so far for now they still want to kee

ina drew reports directly to dimon. she and others unspecifieied involved with the trades remain at the firm. firing and claw backs a pay. the question today as jpmorgan structures its once vaunted risk management, does the news energize big bank critics maintain new regulation doesn't do enough to limit or reveal risky trading activities many believe should not be engaged in by the nation's big banks. sue, back to you. >> mary, thank you very much. as you can imagine, everybody's talking about this. and here is what wall street is saying about it all. from fbr, we worry about the potential risk the credit derivatives portfolio poses to derivatives going forward. rbc says the prize fighter is knocked down but not out. the bigger issue is the hit to credibility. baird, near-term weakness creates long-term opportunity. the firm sticking with its outperform rating on jpm shares. and goldman sachs, losses and uncertainty, but story remains in tact. wells fargo, portfolio loss manageable but timing is unfortunate. kbw, thoug

jamie dimon. >> he should have done his homework better. >> reporter: mike mayo, who closely watches the company for the investment firm c.l.s.a., says in april dimon dismissed concerns the bank was making big eets on credit derivatives that even then were rattling the markets. >> one month ago, jamie dimon o ve a reassurance that this was "a tempest in a teapot" when it came to the company's investments. here we are one month later, and there's a $2 billion loss on their books. of reporter: those risky bets

jamie dimon can keep his job. but the f.b.i. has decided to look into that disasterrous $2 billion loss in the bank's trading division. anthony mason picks up the story. >> reporter: security was tight around j.p. morgan's tampa, florida, campus. a small band of protesters was kept across the street from the annual meeting site where c.e.o. jamie dimon tried to explain the bank's $2 billion bad trade to shareholders. >> the bottom line is that however unfortunate this incident is, we want to do what we always do: admit our mistakes, learn from them and fix them. >> reporter: cameras were not permitted in the meeting, which was over in less than an hour, and some shareholders like peter skillern left less than satisfied. >> i still can't explain what went wrong other than that there was a lack of supervision and accountability. >> reporter: dimon survived a proposal to strip him of one of his jobs. he is both chairman of the board and c.e.o. of the bank. 40% of shareholders backed the move to take away his chairman's title. >> ja

tim geithner cannot force out jamie dimon. that has to be done within the federal reserve system, but the pressure is on jamie dimon to resign from the board of the new york fed. >> eliot: both of us are confusing the two. the two morph into one person, and that may be the problem. is that what we've been talking about with respect to the new york fed board similarric of the larger regulatory crisis we face in this nation where there has been touch influence to bear that they have not done their job. >> yes, it is symptomatic of a broader problem. it could be that this is the tip of the iceberg or the relatively visible part of the problem. the intellectual and other forms capture are much more pervasive. >> eliot: very, very quickly. you are actually beginning a petition campaign to show public support for this. when will that start and how will that work? >> we hope to get it started tomorrow. we hope that a lot of people are going to sign on. it's actually a very reasonable and modest to moderate ask and i would be shocked

do you accept jamie dimon's accountability for this? you know, elizabeth warren, who was the chairwoman of the congressional oversight panel on t.a.r.p. has called for him to resign his post on the new york fed, while a lot of the regulatory regime is worked out. what do you say about that? >> i think the issue here is the power of the banks and whether or not we're going to regulate those banks and put a cop back on wall street. so i think this is a issue which is not involving personalities and should not involve personalities. so i don't get into that. the issue is whether we are going to stick with the law, as written, which will prevent us from bailing out banks again, and the only way to do that is make sure they don't take the kind of risks that we're taking. >> what price should be paid? jamie dimon said at the end of that interview, we should pay a price for that? what's the price? >> the price will be that they will lose their battle in washington to weaken the rule. that is the real price, in terms of past activities. that's

that's something that jamie dimon underlines. >> david gregory, andrew ross sorkin. once again, the full interview with jamie dimon this sunday morning on "meet the press" here on this nbc station. >>> on the presidential campaign trail tonight, president obama is coming off the single largest fund-raiser in presidential history. under a tent last night at george clooney's mansion in los angeles. the take was $15 million. many who couldn't pay the $40,000 price of admission settled for a glimpse of the motorcade as it went by. today, the president visited a middle class neighborhood in economically hard hit nevada, talking about help for homeowners facing foreclosure. >> in north carolina, mitt romney also tried to turn the focus back to the economy. and he appeared to tear up a bit at an event when he told an audience how an entire neighborhood came together to help his niece financially when her husband was called up to duty with the national guard. >>> and one more note here tonight, the family of the alleged victim in the bullying story from romney's high school

jamie dimon, the head of it, is one of the smartest bankers we've got. they still lost $2 billion and counting. this is why we passed wall street reform. >> so the president there talking about why wall street reform was passed. however, democrats have gone on to look at this situation to call it the prime example for more regulation. but if dimon is the best out there, still is, as the president would like to say, this happened on his watch, couldn't the argument be made that jpmorgan is really the best example of the failure of the regulations of dodd-frank, a bill that you voted for? >> no, on the contrary, thomas. i think most people don't realize that the dodd-frank wall street reform legislation has not been fully implemented, not nearly. in fact the rules that are being developed by the department of the treasury and the fdic and the other relevant agencies are still being promulgated. not helped by the fact that the republicans have done everything they could to slow down and block president obama's nominees for the staff of the department of the

shareholders also approved dimon's $23 million pay-package. still there's a lot of pressure to enforce, so-called "claw back policies", recouping salaries and bonuses it paid executives responsible for that trading loss. this morning on the abc television program "the view" president obama spoke about the j.p. morgan crisis. >> "jp morgan is one of the best banks there is. jamie dimon, the head of it, is one of the smartest bankers we got, and they still lost $2 billion." >> susie: we'll talk with a major j.p. morgan shareholder in just a few minutes. >> reporter: i'm erika miller in new york. still ahead, we look at mother nature's impact on april's retail sales. >> susie: a cautious day on wall street as investors continue to worry about political stalemate in greece. once again, political leaders there failed to agree on a coalition government. tom, that means greek voters will head back to the polls next month. >> tom: susie, the continuing greek drama has u.s. investors on edge. the dow fell 63 points. the nasdaq lost, nearly nine. the s&

jamie dimon, j.p. morgan's c.e.o., acknowledged the bank's shortcoming in an appearance on "meet the press" yesterday. >> i do want to put in perspective the company is going to earn a lot of money this quarter so it's a very strong company. we made a terrible egregious mistake, there's almost no execute for it. if you read my chairman letters we always talk about what we did wrong. always what we did wrong, how we can get better. no one in business doesn't make mistakes so this is a terrible mistake, i'm not making excuses for that. >> rose: joining me now is steve rattner. he spent 30 years on wall street before that wrote for the "new york times" as a reporter. he was also in the obama administration, a counselor to the treasury secretary and was instrumental in the auto bailout. also here, gillian tett, the u.s. managing editor of the "financial times" and this, in full disclosure, jamie dimon is a friend of mine as are other employees at j.p. morgan and i have worked with them at conferences where

dimon holds both positions. elizabeth warren a massachusetts senate candidate who designed the protection bureau said dimon should give up his board seat at new york's federal reserve. >> this is about accountability. at some point you have to be accountable and say you don't get to be in a position of public trust when you're engaging in practices that you yourself describe as sloppy and stupid. >> reporter: the bank lost 12% of its value in five days but analysts say it will survive. >> one one thousandth of the value of this bank is $2 billion. doesn't mean a thing. they will earn something like 15 to 30 billion. >> reporter: on theview president obama emphasized this time taxpayers were not left holding the bag. >> you could have a bank not as strong, not as profitable and we may have had to step in. >> reporter: the senate banking committee here on capitol hill was already looking into wall street reform whether it was working. now they added jpmorgan chase to their agenda. >> people are talking about the i

is jamie dimon was asked about it and this was mid-april. he said they're making a tempest out of tea pot. there is no problem here whatsoever. look if this rumor was circulating in mid-april, and now jp morgan chase and jamie dimon said we have least $2 billion in losses maybe $3 billion where is the transparency? where were the regulators? i mean, we are back to where we were before 2008. >> eliot: and they still don't even know the magnitude of it. professor, the title of your book is perfect. "beyond outrage." that's what we should feel. robert reich, as always, sir thank you for your time. >> thanks. >> eliot: the republicans say there is no war on women. bubububububububububububububububububububububububububu [ male announcer ] this is corporate caterers miami, florida. in here, great food demands a great presentation. so at&t showed corporate caterers how to better collaborate by using a mobile solution in a whole new way. using real-time photo sharing abilities, they can create and maintain high standards from kitchen to table. this tec

tim geithner cannot force out jamie dimon. that has to be done within the federal reserve system, but the pressure is on jamie dimon to resign from the board of the new york fed. >> eliot: both of us are confusing the two. the two morph into one person, and that may be the problem. is that what we've been talking about with respect to the new york fed board, similarric of the larger regulatory crisis we face in this nation where there has been touch influence to bear that they have not done their job. >> yes, it is symptomatic of a broader problem. it could be that this is the tip of the iceberg or the relatively visible part of the problem. the intellectual and other forms capture are much more pervasive. >> eliot: very, very quickly. you are actually beginning a petition campaign to show public support for this. when will that start and how will that work? >> we hope to get it started tomorrow. we hope that a lot of people are going to sign on. it's actually a very reasonable and modest to moderate ask and i would be shocked

damey dimon. he thought he had it all figured out. >> right now you look like you're not concerned. >> i'm not that concerned no. >> well, he's concerned now. he lost a ton of money. i can't wait to rip into that guy. all right, now president obama also getting tough with mitt romney's business career. >> well, he made as much money off of us as he could and they closed it down and filed for bankruptcy. >> well, you know what he's going after private equity guys like mitt romney and today he's raising money from--private equity guys. and some people are getting tricked into gay conversion therapy. >> ostracize them. >> california is thinking of banning gay conversion therapy. should they? that's an interesting question tonight. it's your time. ♪ >> jamie dimon is the ceo of jp morgan. he's the guy who has been helped out to others and mainly himself, oh my god not all bankers are all bad. listen to jamie dimon tell us that over and over again. >> not like being successful is bad. because your ri

a heated conference call in which is analysts were grilling jamie dimon pulling out classic jamie dimon phrasing such as i don't know if it's a violation of a volker rule, but it is a violation of the dimon rule. >> one guy that i want handling this as a shareholder it's jamie dimon. >> you do? what's a shareholder you have no choice. >> true. >> more "fast money" is coming >> more "fast money" is coming up next. four walls and a roof is a structure. what's inside is a home. home protector plus, from liberty mutual insurance, where the costs to both repair your house and replace what's inside are covered. and we don't just cut a check for the depreciated value -- we can actually replace your stuff with an exact or near match. and with the liberty mutual home gallery app, you can use a mobile device to easily catalog your belongings in advance, so you're always well prepared. home protector plus, from liberty mutual insurance, so your life can settle right back into place. to get a free quote, call... visit a local office, or go to libertymutual.com today. liberty mutual insurance. respo

jamie dimon, j.p. morgan's c.e.o., acknowledged the bank's shortcoming in an appearance on "meet the press" yesterday. >> i do want to put in perspective the company is going to earn a lot of money this quarter so it's a very strong company. we made a terrible egregious mistake, there's almost no execute for it. if you read my chairman letters we always ta about what we did wrong. always what we did wrong, how we can get better. no one in business doesn't make mistakes so this is a terrible mistake, i'm not making excuses for that. >> rose: joining me now is steve rattner. he spent 30 years on wall street before that wrote for the "new york times" as a reporter. he was also in the obama administration, a counselor to the treasury secretary and was instrumental in the auto bailout. also here, gillian tett, the u.s. managing editor of the "financial times" and this, in full disclosure, jamie dimon is a friend of mine as are other employees at j.p. morgan and i have worked with them at conferences where i