CBS Evening News - 2012-05-13
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Read a transcript preview of “CBS Evening News - 2012-05-13” from malgent, uploaded on 2024-05-09.
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Language: English (YouTube automatic captions)
[0:00] Tonight, the $2 billion shake-up. Three
[0:03] top executives now reportedly leaving JP
[0:06] Morgan Chase after its massive trading
[0:08] loss as the CEO admits to stupid
[0:10] mistakes. We'll have the latest.
[0:13] Do you, sir, take
[0:14] The debate over same-sex marriage, front
[0:16] and center this Sunday. Bill Whitaker
[0:19] and Terrell Brown are both on the story.
[0:21] Starting over, jobs are open but many
[0:24] workers don't have the right training.
[0:25] We'll show you a program trying to
[0:27] change that.
[0:29] And the graduates, Tony Guida with a
[0:32] story of a war zone refugee who went
[0:34] from janitor to Ivy League grad.
[0:41] This is the CBS Evening News.
[0:45] And good evening, everyone. I'm Jeff
[0:47] Glor. Three executives at the nation's
[0:49] largest bank, JP Morgan Chase,
[0:51] reportedly are out. This after the bank
[0:54] revealed on Thursday it lost at least $2
[0:56] billion in risky trades. Those stepping
[0:59] down will include the senior executive
[1:01] who oversaw the transactions and two of
[1:03] her traders. Today, CEO Jamie Dimon
[1:06] called the trades a terrible, egregious
[1:09] mistake. He also acknowledged the
[1:11] Securities and Exchange Commission is
[1:13] investigating whether rules were broken.
[1:17] We know we were sloppy. We know we were
[1:18] stupid. We know there was bad judgment.
[1:21] We don't know if any of that's true yet.
[1:22] Of course, regulators should look at
[1:24] something like this. That's their job.
[1:25] So, you know, we are totally open kimono
[1:26] with regulators and they will come to
[1:28] their own conclusions. We took far too
[1:30] much risk. The strategy we had was
[1:32] barely vetted. It was barely monitored.
[1:35] It should never have happene