On May 10th, JP Morgan (NYSE:JPM) CEO announced that the bank faced a $2 billion loss on a hedge that had gone awry in its Chief Investment Office.
Many analysts and commentators discounted the fact that for an institution of JP Morgan (NYSE:JPM)’s size a surprising $2 billion loss, while significant, was not overly significant.
Perhaps they were right. If a $2 billion loss is insignificant then what about an $8-9 billion loss. Significant yet?
In early May Dimon had expressed a degree of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards