JPMorgan Chase (JPM) CEO Jamie Dimon is expected to testify tomorrow in a hearing before the Senate Banking, Housing and Urban Affairs Committee. In an opening statement he prepared for the hearing, Dimon said the bank expects to post a “solidly profitable” second quarter report despite the $2 billion trading loss he disclosed last month.
Dimon also plans to say “we do believe this [trading loss] to be an isolated event,” according to the testimony.
In a section called perspective he added the following:
“We will not make light of these losses, but they should be put into perspective. We will lose some of our shareholders’ money � and for that, we feel terrible � but no client, customer or taxpayer money was impacted by this incident.”