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CNNW Erin Burnett OutFront May 12, 2012



son. tonight, she comes outfront. good evening, everyone. i m erin burnett. outfront tonight, warning signs ignored. the fallout swept around the world today from america s biggest banks, multibillion dollar loss on risky trades. in washington, senator carl levin held a conference call with reporters about jpmorgan s shocking trading losses which could be up to $3 billion and the credit rating agency fitch slapped jp morgan with a drowngrade citing reputational risk. stocks plunged taking other banks down. the boss, america s most well-known banker was taken by surprise. here s jamie dimon one month ago responding to investor questions about bad trades and his risk management unit. it s is a complete tempest in a teapot. sophisticated, complex things. at the end of the day that s our job. invest that portfolio wisely and intelligently over a long period of time to earn income and to offset other exposures we have. well, here he is last night when it turned out t ....

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