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-- joining me now is -- go to -- is US make equity analyst at best -- IQ and and Eric Allen -- that's in question I was.
-- would Dennis about do we really get a clear picture today from the queue today.
As to what these trades exactly war and whether -- -- the bank has further exposure.
To the European debt market.
Now having listened to mister Dimon for about two hours.
He gave no further details at all on what the trades -- simply because he wants to protect the farm.
As is trying to unwind these trades.
And the senators Tom seem to concur with that I didn't hear anybody off fighting back and saying hey listen we really want to know what that details our.
But still you did hear a lot of rhetoric -- frankly for -- -- more democratic senators the democratic senators about the fact that the bank is too large.
That we should have a stricter -- -- -- meteorite to vocal role make it more a strict on the banks who do you are you worried about that as someone that covers the bank is an analyst that this could indeed.
Impact earnings impact revenues if the -- -- the -- and.
Well sure there's two issues here too big to fail and the Volcker Rule.
The Volcker Rule will certainly impact earnings.
Because proprietary trading and hedging those stock can be if done right very profitable.
As far as too big to fail.
It is likely that.
These banks certainly are just -- of their size and complexity.
Too big to fail.
Mister Dimon seemed to give some good color on what would happen if JPMorgan would run into trouble and need to be wound down.
It seemed to bomb.
Pleased that senators that -- -- he does have.
Process plant in the worst case scenario.
All right we'll -- is might have a plan are you concerned the Moody's is gonna actually downgrade.
Citi Bank of America the stock to cover.
Yes I mean the headline out -- is that.
Moody's is looking to downgrade the top.
Fifteen or so global banks.
And that's because of their exposure.
And and that -- may happen.
Later on but because there -- competitive.
Agency to -- one of -- Who we can't really say anymore okay.
Certainly certainly well the question asked to be.
Obviously as a know that you did lower your price target on JPMorgan down to 45 dollars and 49 -- -- -- the buy on the stock so we'll leave it there.
-- -- very that's Erika -- setting by obviously as -- a wrap up testimony from Jamie Dimon Eric thank you.
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