JPMorgan's big loss: Explain it to me

What, exactly, is going on at JPMorgan Chase? Something about whales?

Um, well, yes. Allow us to explain.

JPMorgan, which has more assets than any other bank in the country, announced Thursday that it has lost an awful lot of money over the past six weeks.

Now, the loss won't sink the bank. Not even close.

Net losses are estimated to total $800 million by the end of the quarter, although that number might go up. For context, the bank made $5.4 billion in the first three months of the year alone.

But the loss does raise all kinds of questions about the regulation of banks, the value of trading instruments called derivatives, the size of the world's largest firms and the systemic risk they may pose to the financial system.

Read Full Article from CNNMoney

- Posted: 2012-05-11 12:36:51

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