The CEO Of JP Morgan Dropped The S-Bomb On His Conference Call

On the conference call following the bank's dismal earnings announcement, which included an almost-$1 billion legal cost expenditure, CEO Jamie Dimon said that the bank would "try to avoid stepping in dogs--t."

Yup.

He also blasted analysts for what he considers a short term negative outlook on the bank's prospects. That said, the stock is currently down 4.5%. That's odd considering how many times all of Wall Street's giant banks have weathered through massive legal fees without the market batting an eye.

Perhaps JPM is being punished because that legal fee was accompanied by a 23% drop in fixed-income trading and a 25% drop in equity underwriting. Commercial banking didn't do so hot either - net income fell 10% from the same time last year.