Thursday, June 28, 2012


Bend over, here it comes again!
Losses on JPMorgan Chase’s bungled trade could total as much as $9 billion, far exceeding earlier public estimates, according to people who have been briefed on the situation.


“Essentially, JPMorgan has been operating a hedge fund with federal insured deposits within a bank,” said Mark Williams, a professor of finance at Boston University, who also served as a Federal Reserve bank examiner.

A spokesman for the bank declined to comment.
 Gee, I wonder what Jamie Dimon's thoughts are on what the function of regulators should be.

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