Red Ice News

Dispelling the Mythmakers

Largest US bank, JPMorgan Chase, says it lost $2 billion in risky trades
New to Red Ice? Start Here!

Largest US bank, JPMorgan Chase, says it lost $2 billion in risky trades

Source: cbsnews.com
JPMorgan Chase & Co. (JPM), the largest bank in the United States, said Thursday that it lost $2 billion in a trading portfolio designed to hedge against risks the company takes with its own money.

The company’s stock plunged more than 5 percent in late electronic trading after the loss was announced. Other bank stocks, including Citigroup and Bank of America, suffered heavy losses as well.

"The portfolio has proved to be riskier, more volatile and less effective as an economic hedge than we thought," CEO Jamie Dimon told reporters. "There were many errors, sloppiness and bad judgment."

[...]

Read the full article at: cbsnews.com

Comments

Red Ice Radio

3Fourteen

Is it Possible for Jewish Nationalists & European Nationalists to Work Together?
Reactionary Jew - Is it Possible for Jewish Nationalists & European Nationalists to Work Together?
What Is White Identity?
Erica - What Is White Identity?

TV

Baked Alaska - Oy Vey Banned from Deploraball
Baked Alaska - Oy Vey Banned from Deploraball
Happy New Year from Lana
Happy New Year from Lana

RSSYoutubeGoogle+iTunesSoundCloudStitcherTuneIn

Design by Henrik Palmgren © Red Ice Privacy Policy

`]]