Bank One News

Jamie Dimon is one of the most successful, well-known and outspoken bank executives around.

The nation's largest bank has said publicly that its losses on the trades have surpassed $2 billion, and people familiar with the matter have said they could over time reach $5 billion.

JP Morgan's trading loss that was $2 billion four days ago is now $3 billion, report Nelson Schwartz and Jessica Silver-Greenberg in the New York Times .

The CEO of JPMorgan Chase survived a shareholder push Tuesday to strip him of the title of chairman of the board, five days after he disclosed a $2 billion trading loss by the bank.

Despite chatter of Barack Obama and Jamie Dimon parting ways , the President continues to find time in his schedule to compliment the JP Morgan Chase chief executive.

"JPMorgan is one of the best-managed banks there is. Jamie Dimon , the head of it, is one of the smartest bankers we got and they still lost $2 billion and counting," the president said.

The reputation that Jamie Dimon honed for decades on Wall Street has been severely damaged in a matter of days.

In this Feb. 11, 2009 file photo, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon, center, flanked by Goldman Sachs & Co.

In this Wednesday, Jan. 13, 2010 file photo, from left, Goldman Sachs Group, Inc.

Much bigger and much better for the city of New Haven is how Higher One describes its new headquarters, which can accommodate ten times the number of employees that the company's previous location in Science Park originally housed.

JP Morgan's reputation as the most respected and responsible institute on Wall Street is in jeopardy after it announced a huge $2 billion loss in its synthetic derivatives portfolio.

PETER W. ATWATER is President of Financial Insyghts LLC, a firm that helps clients understand key financial services issues and their economic impact.

Procter & Gamble Co. : BMO Capital reduced its target on Procter & Gamble after the company reported higher than expected Q3 EPS but lowered its FY12 guidance.