JPMorgan loses $2B

ATCclears · May 10, 2012

JPMorgan loses $2bn in ‘egregious’ error - FT.com

Unknown yet if other banks have had similar losses.

FarmerTed1971 · May 10, 2012

Golf clap?

knuckle Head · May 11, 2012

I just wander how many of the other bailed out banks are about to announce the same thing, and throw us into a further downward dismal spiral, hope everyone paying attention to these articles and not just blowing them off, because they do not want to know the truth

JGRuby · May 11, 2012

The money was not lost - it went somewhere - meaning someone has it. JPMorgan, the company, simply doesnt control it.

James Ruby

ATCclears · May 17, 2012

FT.com is reporting that JP Morgan has $100 billion of risky bonds.

"The unit at the centre of JPMorgan Chase's $2bn trading loss has built up positions totalling more than $100bn in asset-backed securities and structured products – the complex, risky bonds at the centre of the financial crisis in 2008. These holdings are in addition to those in credit derivatives which led to the losses and have mired the bank in regulatory investigations and criticism."

DieselScout · May 17, 2012

I wish they would have lost my mortgage!

Cougfan2 · May 17, 2012

JGRuby said:
The money was not lost - it went somewhere - meaning someone has it. JPMorgan, the company, simply doesnt control it.

James Ruby

+1

Truenorth · May 21, 2012

As of this moring that figure is now above 7 billion, lot of cash to lose control of.

ATCclears · May 21, 2012

Truenorth said:
As of this moring that figure is now above 7 billion, lot of cash to lose control of.

It will go higher...

beavertonbuck · May 21, 2012

Just for some perspective JP has over $100B in equity and total assets of $1.1T. This definitely hurts but isn't likely going to cause to much trouble for the company.

Burt Gummer · May 21, 2012

Nothing to celebrate because it is YOUR tax dollars that will be paid out to 'save' these parasites. Or the private Fed will simply print billions and hand it to them, out of thin air = still a tax called inflation.

That is why they can freely gamble huge amounts of money at high risk. Why should they care about risk? Bought and paid for politicians (all important ones are), over taxpayer objections, will simply let them loot the Treasury to cover their losses. Because these same folks own all the media the American numbskull populace will never figure out that the enemy that killed America is a central bank, not some brown-skinned made-up terrorist 2300 miles away.