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for the nuts and bolts on this fias fiasco, it s the impact on the markets and your own investments. alison kosik joins us now. just what was this massive trading bet all about? before it went south? reporter: fredricka, what jpmorgan essentially did was made a big game am. they made risky bets and lost. the bets they made were to protect against possible losses on jpmorgan s other investments, but clearly they backfired and the bets produced losses of their own. how did this come out? it came out in a surprise conference call that ceo jamie diamond called for lamon called. shares are down almost 8% right now. shares of others are getting hit hard right now. wall veit is worried about other banks wondering, you know what, if jpmorgan can do this and it s considered the stronger of the banks or the strongest of the banks, what kind of bets are the other banks making especially, once again, that aren t as strong as jpmorgan? fredricka? so the ceo, jamie dimon, had qui ....
With. willie geist? hey, tavis, it s willie. good to see you that morning. you made news over on c-span when you talked about some of your frustrations with the president saying this is the first administration in your career that hasn t invited you to the white house. what is at the core of that frustration you have with the president? what would you like to see him do that he has not done in the first two and a half years? i m glad you asked that. i was surprised at the media attention the economy created. let me ask you a question first, though. first of all, my grandfather put it this way, willie. there are some fights, tavis, that ain t worth fighting. even if you win, there are other fights that you have to fight, son, even if you lose. i think the american people want to see the president fight. too often in these debates, start with health care, go to wall veit, wall street, they get their clock cleaned by the republicans. let s be honest, this is morning joe, we can be ....