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

For Native Alaskans, Holiday Menu Looks To The Wild

Thanksgiving menus traditionally celebrate the bounty of late fall. In rural Alaska, that means walrus, moose, fermented fish heads and Eskimo ice cream — salmonberries mixed with Crisco.
NPR

For Native Alaskans, Holiday Menu Looks To The Wild

Thanksgiving menus traditionally celebrate the bounty of late fall. In rural Alaska, that means walrus, moose, fermented fish heads and Eskimo ice cream — salmonberries mixed with Crisco.
NPR

EPA Proposes New Rules To Curb Ozone Levels

The rules would lower the threshold for ozone from 75 parts per billion to between 65 ppb to 70 ppb. They are likely to be opposed by industry groups as well as Republicans.
NPR

Pandora's New Deal: Different Pay, Different Play

The Internet radio service offers greater exposure to artists in exchange for a lower royalty rate.

Leave a Comment

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