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JPMorgan: 'Sloppiness' Cost Us $2B in 6 Weeks

'London whale' loss stuns financial world, could trigger calls for more regs

By Rob Quinn,  Newser Staff

Posted May 11, 2012 1:51 AM CDT | Updated May 11, 2012 7:46 AM CDT

(Newser) – JPMorgan Chase has stunned the financial world by disclosing trading losses of $2 billion since the beginning of April, caused by what CEO Jamie Dimon calls "errors," "sloppiness" and "bad judgment." The losses came from bad trades made by a...   Read full story »

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derivatives market • JPMorgan Chase • banking industry • Jamie Dimon • London Whale

 
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