When it comes to JPMorgan Chase & Co., President Obama puts his money where his mouth is.
Despite the bank's $2-billion trading loss, Obama this week said JPMorgan is "one of the best-managed banks there is" and called Chief Executive Jamie Dimon "one of the smartest bankers."
Obama's 2011 financial disclosure form backed up that view.
Obama parks a sizable chunk of his money in two JPMorgan accounts. He has a Private Client Asset Management checking account valued from $500,001 to $1 million, and a regular checking account with between $1,001 and $15,000, according to the form, which was released by the White House on Tuesday.
Overall, Obama's assets were valued at between $2.6 million and $8.3 million.
He cited the bank's stellar reputation when he asserted that the huge trading loss showed the need for tough implementation of the 2010 financial reform law.