Thursday, June 28, 2012

JPMorgan Trading Loss May Reach $9 Billion

"Losses on JPMorgan Chase’s bungled trade could total as much as $9 billion, far exceeding earlier public estimates, according to people who have been briefed on the situation." (NYT) **Teri Buhl reported this on 6/26

Again, listen to JPMorgan CEO Jamie Dimon explain how the firm's chief investment office (CIO) lost billions (initially $2 billion + another billion during Q2) on trades in its synthetic credit portfolio.




Conference Call Source: JPMorgan
Chart #1: Zero Hedge
Chart #2: Reuters

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