The Journal, citing people familiar with the situation, reported that one of the executives is
The other two identified by the newspaper are an executive in charge of the
Drew, one of the highest-ranking women on
The Journal reported that Bruno Iksil, the
On Friday, investors shaved almost 10 percent off
"We made a terrible, egregious mistake," Dimon said in an interview that was taped Friday and aired on
Dimon said he did not know the extent of the problem when he said in April that the concerns were a "tempest in a teapot."
The loss came in the past six weeks. Dimon has said it came from trading in so-called credit derivatives and was designed to hedge against financial risk, not to make a profit for the bank.
Dimon said the bank is open to inquiries from regulators. He has also promised, in an email to the bank's employees and in a conference call with stock analysts, to get to the bottom of what happened and learn from the mistake.
A piece of the 2010 financial reform law known as the Volcker rule would prevent banks from certain kinds of trading for their own profit. Dimon has said the trading involved in the
Dimon conceded to
"This was not a risk-reducing activity that they engaged in. This increased their risk," Levin told
"So we've got to be very, very careful that the regulators here are not undermined by this huge effort to weaken the rule by putting in a huge loophole" that includes the trading involved in the
Addressing public anger toward
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