NEW YORK: JPMorgan Chase & Co. is emphasizing transparency and culpability as it weathers a crisis that could adversely affect it and other financial services institutions.
The company acknowledged last week that it lost approximately $2 billion after a faulty investment strategy. Since then, reports have indicated that the trading losses actually surpassed that figure and were closer to $3 billion. The situation has prompted calls for more regulation of big banks.
JPMorgan is stressing that it made a mistake ...