Adventures In Honesty, JPMorgan Edition
JPMorgan’s Q1 “restatement”: “Our previously filed financial statements for the 2012 first quarter should no longer be relied upon.”
Jamie Dimon, on conference call a few minutes later: “We made a mistake. We completely disclosed the mistake.”
See? They disclosed the mistake in the statement that should no longer be relied upon. “We admitted what we did in the lie that we told.” What’s everybody’s problem?
By the by, shares of JP Morgan closed up 6% in response.
(via FT Alphaville)