Most Active Stories
- Empire Brewing Company says new brewery will create distinctive craft beers
- Teachers union not ready to reverse no confidence vote in education commissioner
- Duffy will keep thoughts to himself on Moreland Commission
- Tell Me More will leave WRVO's midday schedule; Q with Jian Ghomeshi moves in
- Novelis defends itself in court against allegations of influencing union vote
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.