- Posted May 22, 2012 by
New York, New York
This iReport is part of an assignment:
Occupy Wall Street
JPMorgan Chase: Put Another Billion on the Fire.
JPMorgan Chase reveals a staggering 2 billion dollar high-risk trading loss. Ouch- self-inflicted wound, says CEO Jamie Dimon at a shareholders meeting last week. So sorry, and thanks for my 23 mil pay package. And by the way, that 2 billion loss might double in the next couple of quarters. FYI.
Now, just a few days later, another billion is up in smoke (that's 3) due to other investors and hedge fund managers taking advantage of JPMC's credit market position.
And of course the stock dove 20%- that's about 30 billion up in smoke, but no worries!
What's another billion on the fire?