Report: JPMorgan trading losses may reach $9B

[gwb-trading]

Report: JPMorgan trading losses may reach $9B

NEW YORK (AP) — Shares of JPMorgan Chase & Co. tumbled Thursday as a published report said that the bank's losses on a bad trade may reach as much as $9 billion — far higher than the estimated $2 billion loss disclosed last month.

In a hearing before the House Financial Services Committee last week, Dimon was dismissive when asked if JPMorgan's losses could total half a trillion or a trillion dollars.

Just waiting for the other shoe to be dropped and we find out that JPM's trading losses are actually half a trillion .... and a massive bailout is needed.

 

[atticus]

Someone here mentioned $8B back on 5/11.

http://www.elitetrader.com/vb/showt...=240272&perpage=10&highlight=jpm&pagenumber=8

 

[achilles28]

You sure did. Max Keiser said the loss is even higher - it'll bankrupt JPM. Not sure if there's any truth to it

 

[KINGOFSHORTS]

Quote from achilles28:

You sure did. Max Keiser said the loss is even higher - it'll bankrupt JPM. Not sure if there's any truth to it

they have access to the discount window.

 

[JB3]

Move along. There is no conflict of interests. Jamie Dimon is the master of the universe. Nothing to see.