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Re: WhiteNOC post# 11909

Thursday, 05/10/2012 8:16:16 PM

Thursday, May 10, 2012 8:16:16 PM

JPMorgan Chase, the largest bank in the United States, says it lost $2 billion in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money.

The company's stock plunged almost 7 percent in after-hours trading after the loss was announced today. Other bank stocks, including Citigroup and Bank of America, suffered heavy losses as well.

http://www.abc24.com/business/story/JPMorgan-Chase-acknowledges-2B-trading-loss/WSc8omVPhEe1XLuY-hG_8A.cspx?rss=63

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