Friday, 11 May 2012 03:08

JPM Crashing After It Convenes Emergency Call To Advise Of "Significant Mark-To-Market" Losses In Bruno Iksil/CIO Group

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Out of nowhere, JPM announced  that it would hold an unscheduled 5pm call to coincide with the release of its 10-Q. Rumors were swirling as to why.

The subsidiary gone belly up was according to Zero hedge the world's largest "prop" trading desk.

The loss currently $2 billion dollars (First inventory)
 

There are three articles from Zero Hedge

http://www.zerohedge.com/news/jpm-crashing-after-it-convenes-emergency-call-advise-significant-mark-market-losses

 

http://www.zerohedge.com/news/worlds-largest-prop-trading-desk-just-went-bust

 

http://www.bloomberg.com/news/2012-05-1/jpmorgan-chase-says-cio-unit-suffered-significant-loss.html

 

UPDATE: JP Morgan tempest won't blow over
JP Morgan’s sudden conference call to disclose, and to try to explain, the $2 billion trading loss that it racked up in only six weeks was one of the most absorbing bits of live financial theatre since the 2008 crash.

 

 

 

 

Last modified on Friday, 11 May 2012 05:07

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