NEW YORK: Jamie Dimon, JPMorgan Chase & Co Inc's hard-charging chief executive, looked a bit more vulnerable on Friday after the bank took a $7.2 billion hit from litigation expenses and posted its first quarterly loss since 2004.
The loss is a blow to Dimon, who has long used the bank's steady profit as a shield to ward off critics of its mounting regulatory and legal issues. The bank for the first time said it has stockpiled reserves of $23 billion for expected settlements and other legal expenses.
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