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Home$2B Loss? What Went Wrong at JP Morgan?
Posted by Larry Doyle on May 12th, 2012 7:32 AM |
What really happened at JP Morgan that a $2 billion loss could be racked up in supposedly the course of 6 weeks?
Little bit of octane in some of those positions, perhaps?
Did the brains within JP Morgan really know what they were doing? Did they make the same mistake as the brains at Long Term Capital Management in 1998? What mistake was that? (more…)
JP Morgan Whale: “Thar She Blows”
Posted by Larry Doyle on May 11th, 2012 6:02 AM |
Less than a month ago, JP Morgan released very solid 1st quarter 2012 earnings and put out the following release:
New York, April 13, 2012 – JPMorgan Chase & Co. (NYSE: JPM) today reported first-quarter 2012 net income of $5.4 billion, compared with net income of $5.6 billion in the first quarter of 2011. Earnings per share were $1.31, compared with $1.28 in the first quarter of 2011.
Jamie Dimon, Chairman and Chief Executive Officer, commented on financial results: (more…)
