By NELSON D. SCHWARTZ and JESSICA SILVER-GREENBERG
Posted: 05/16/2012 10:58 pm Updated: 05/16/2012 10:58 pm
The trading losses suffered by JPMorgan Chase have surged in recent days, surpassing the bank’s initial $2 billion estimate by at least $1 billion, according to people with knowledge of the losses.
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Reposting, this 2B loss is just the preliminary number.Dimon didn't disclose this "paltry" 2B investor loss because he was ethical.Three Top Executives didn't resign on account of a 2B loss.Dimon disclosed and those three resigned to try and get ahead of the impending "disaster" (Dimon's words)! Read More...
href="http://www.bloomberg.com/news/2012-05-11/what-jamie-dimon-doesn-t-know-is-plain-scary.html" target="_blank" rel="nofollow">http://www.bloomberg.com/news/2012-05-11/what-jamie-dimon-doesn-t-know-is-plain-scary.html"It’s not often that a huge company calls an emergency teleconference on short notice to discuss an intra-quarter trading loss that’s equivalent to only 1 percent of shareholder equity. So when a Deutsche Bank AG stock analyst asked Dimon why the company had disclosed it at all, the answer was bound to be revealing.“It could get worse, and it’s going to go on for a little bit unfortunately,” Dimon replied. The meaning was clear. Worse could mean disastrous."
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