QUOTATION OF THE DAY - NEW YORK TIMES
DealBook New Fraud Inquiry as Trading Loss Mounts at JPMorgan By JESSICA SILVER-GREENBERG "I wish I could say I'm shocked, because it is shocking. But regulators have not been particularly effective or aggressive in the past two decades of finance."
FRANK PARTNOY, a professor at the University of San Diego School of Law, on the failure of banking regulators to stop the manipulation of a benchmark interest rate.
JPMorgan Chase indicated that traders may have tried to conceal the extent of red ink in a soured credit bet that could lead to more than $7 billion in losses.
recommend
Facebook
Twitter
bookmark 
print
Comments: 2
7 billions of losses are equal, we talked about it some 6 months ago, maybe the 2011 Fall, and found out that the risk equivalent to such a sum, through the hedge funds, is on a total capital exceeding 2 Trillions.
The assets of the bank are not covering this alone and some figures presented to the Fed should be wrong and cover such an excess.