JP Morgan Trade Losses Could Reach $5 Billion… Or More

JP Morgan Trade Losses Could Reach $5 Billion… Or More

May 21st, 2012

Via: Business Insider:

When JPMorgan first announced that its CIO office had blundered into a huge trading loss, the number was pegged at $2 billion, though the company said it could go higher.

Then the loss was reported to be $3 billion.

And now…

$5 billion or more?

From WSJ:

The nation’s largest bank has said publicly that its losses on the trades have surpassed $2 billion, and people familiar with the matter have said they could over time reach $5 billion.

But the losses could be even bigger if the company sells its positions into a market that has turned against its positions, some traders say. Improvements in the markets could slice the bank’s losses.

<!– AD CAN GO HERE

Buy gold online - quickly, safely and at low prices

END: AD CAN GO HERE –>

Leave a Reply

You must be logged in to post a comment.

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes