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-- -- from Chicago at a breaking news in Florida back to Adam Shapiro that JPMorgan meeting is -- -- -- that is correct the meeting has adjourned there was a very interesting exchange at the end of great many to question -- there were questions about the two billion dollar loss -- Most of the questions from shareholders and most of the pointed statements.
That would sound critical Jamie Dimon had to do with the way the bank.
Has failed to.
People who might be upside down in their mortgages or help people.
Who are facing foreclosure a great many statements and questions about the mortgage crisis and JPMorgan -- role in that crisis.
At the end of the meeting though the last shoulders shareholders speak.
Asked a very -- question given the two billion dollar loss from the hedging strategy.
Will the board of directors have to lower the dividend that they're paying I think it's thirty cents.
Per share out quarterly at this point and Jamie Dimon said.
That I certainly hope not.
When asked if this would -- eliminated dividend he said I certainly hope not there's no expectations.
Of a reduction.
When he was asked that question -- -- said I certainly hope not -- he would not commit to holding the dividend where it is now.
Kind of interest Allison and -- that.
Will I guess we we don't know exactly does that trade still.
Technically -- don't know how much money they're going to lose but it's two billion or more -- their drive.
And if you Rowe call in the the 10-Q filing they talked about the potential for losses as high as four point two billion dollars.
On the conference call last Thursday mr.
Dimon what he said this egregious mistake was self and self inflicted wound.
He said the current losses two billion but they were still in the process of try to unwind some of these trades.
And that it could go higher somewhere anticipating at least another billion.
So again he can make no commitment regarding the dividend.
Our data -- Schapiro lied in Tampa JPMorgan dating small group of protesters make in a decent amount of noise.
Behind the net they lost an additional 150 million dollars just on Friday in that trade according to the Wall Street Journal well there you go.
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