JPMorgan's Losses 'May Reach $9 Billion' | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

JPMorgan's Losses 'May Reach $9 Billion'

First it was $2 billion.

Then "as high as $4 billion."

Now there's word from The New York Times that:

"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."

The total has grown, according to the Times, "as the bank has been unwinding its positions."

It says the bank declined to comment.

As we reported last week, while he declined to tell Congress just how much the losses will end up being, JPMorgan CEO Jamie Dimon had a quip ready when asked if they might approach $1 trillion.

"Not unless this earth is hit by a moon," he said.

Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

NPR

Seahawks, Patriots, Face Off For Super Bowl XLIX

Seattle, the defending champs, hope to do it again in Glendale, Ariz., but the face slightly favored New England.
NPR

College Life Doesn't Have To Mean Crummy Cuisine, Says Dorm Room Chef

Sick of dining hall pizza, public health student Emily Hu taught herself how to cook — even with no oven. Now she's hoping to inspire her peers to pick up cooking skills and healthier eating habits.
NPR

Democrat Seeks To Authorize Operations Against ISIS

Rep. Adam Schiff of California plans to introduce a bill to allow congressional authorization of military operations against ISIS. NPR's Rachel Martin talks to Rep. Schiff about the new legislation.
NPR

In Sweden, Remote-Control Airport Is A Reality

Sweden is the first country in the world to use new technology to land passenger airplanes remotely. At an airport in a tiny town, flights are guided by operators sitting miles away.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.