JPMorgan Loses $2 Billion in Chief Investment Office

Categorized | STOP FORECLOSURE FRAUD

JPMorgan Loses $2 Billion in Chief Investment Office

JPMorgan Loses $2 Billion in Chief Investment Office

Bragging Rights: JPMorgan’s Dimon who gets $23 millionsays 2011 was a good year, but that “contrived” banking regulations are slowing the U.S.’s economic recovery. 

“Just SHUT UP about my prop trading, you guys, OK?! I’m FINE! Everything is just FINE! I DON’T NEED REGULATION” – Jamie Dimon

Bloomberg-

JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon said the firm lost about $2 billion on synthetic credit securities after an “egregious’” failure in its chief investment office, which the bank says focuses on hedging.

“This portfolio has proven to be riskier, more volatile and less effective as an economic hedge than the firm previously believed,” the New York-based company said today in a quarterly securities filing. JPMorgan declined 5.5 percent to $38.50 in extended trading at 5:55 p.m. in New York.

[BLOOMBERG]

image: AP

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8684 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives