JPMorgan Chase said Friday that a bad trade had cost the bank $5.8 billion this year, almost triple its original estimate, and raised the prospect that traders had improperly tried to conceal the blunder. “This has shaken our company to the core,” CEO Jamie Dimon said. The bank said managers […]
Tag: Jamie Dimon
JPMorgan says trading loss grew to $4.4 billion
JPMorgan Chase, the largest bank in the United States, said Friday that its loss from a highly publicized trading blunder had grown to $4.4 billion in the most recent quarter, more than double the bank’s original estimate of $2 billion. The bank also said that it was reducing its net […]
Report: JPMorgan trading losses may reach $9B
Associated Press Shares of JPMorgan Chase & Co. tumbled Thursday as a published report said that the bank’s losses on a bad trade may reach as much as $9 billion  far higher than the estimated $2 billion loss disclosed last month. In May, JPMorgan said the loss came from […]
