Jamie Dimon Just Mentioned Two Specific Things The JP Morgan CIO Was Hedging Against

Jamie Dimon

Photo: CSPAN

For the last month or so, everyone wishes they had been a fly on the wall in JP Morgan’s Chief Investment Office in London.And by everyone we mean journalists, hedge funders, politicians… everyone.

You see, the question everyone is asking is — how… how did JP Morgan lose $2 billion hedging? Ans also, of course, what were the traders (etc.) thinking?

We know that the massive loss was due to a bad hedge and bad risk management, but that’s vague. During his hearing today, though, Jamie Dimon did mention two specific risks that the CIO was trying to mitigate — rapidly rising interest rates and the global credit crisis.

Something? Nothing? Take it as you will.

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