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May 14th, 2012 
FAKE NEWS for the Zionist agenda The bank’s chief executive Jamie Dimon is expected to accept the resignation of Ina Drew, a 55-year-old chief investment officer who has worked at the firm for three decades.
Two other high-ranking officials from the London-based desk held accountable for the huge loss are likely to tender their resignations.
As one of the highest-paid officials of at JPMorgan Chase, Drew was tasked with overseeing the division of the bank responsible for the loss. She had offered her resignation several times since April.
While JPMorgan Chase is seeking to minimize the damage caused by the USD 2 billion loss, apparently its shares closed down almost ten percent on Friday.
“We made a terrible, egregious mistake and there’s almost no excuse for it,” Dimon said in an interview on Friday, adding that the bank was “sloppy” and “stupid.”
The recent development came just after JP Morgan’s long-term issuer default rating was cut by one notch from AA- to A+ on Friday, while its short-term grade was lowered from F1 to F1+.
Standard Poor’s rating agency also downgraded its assessment of the bank on Friday.
On Thursday, JP Morgan’s stocks sank almost seven percent to just over USD 38 per share during after-hours trading, dragging down market shares throughout the entire banking sector.
Earlier financial reports emphasized that if nothing happened to reassure investors before the beginning of trading on Friday, the problem would likely spill over into the cash market.
MR/MA
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