white men losing money

JPMorgan’s Trading Loss Said to Reach at Least $3 Billion

NEW YORK, NY - MAY 07: Chairman and CEO, JPMorgan Chase & Co, James
Dimon signaling upwards. Photo: Jemal Countess/2012 Getty Images

JPMorgan Chase’s trading losses have ballooned 50 percent, from the $2 billion estimate to approximately $3 billion, sources tell DealBook. CEO Jamie Dimon previously attempted to take the sting out of this blow, acknowledging last Thursday that the losses might double even to the $4 billion mark by the end of the year. The bank remains healthy despite the (growing) loss, but JPMorgan still has to manage investor lawsuits and pending SEC and Justice Department investigations, among other problems.

JPMorgan’s Loss Said to Reach $3 Billion or More