Most Active Stories
- North Korea Claims Missile Launch From Submerged Submarine
- They Speak Hebrew And Keep Kosher: The Left-Behind Ethiopian Jews
- Anna Carll Hopes Her Paintings 'Punch You in the Face'
- UTC Student Robert Fisher is the University's Third Rhodes Scholar
- Arthur Golden (Finally!) Has A New Novel Coming Out. Here's What He Told WUTC.
JPMorgan's Losses 'May Reach $9 Billion'
First it was $2 billion.
Then "as high as $4 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."
The total has grown, according to the Times, "as the bank has been unwinding its positions."
It says the bank declined to comment.
As we reported last week, while he declined to tell Congress just how much the losses will end up being, JPMorgan CEO Jamie Dimon had a quip ready when asked if they might approach $1 trillion.
"Not unless this earth is hit by a moon," he said.