Friday, May 11, 2012

WHAT IS JP MORGAN REALLY TRYING TO HIDE?

WHAT IS JP MORGAN REALLY TRYING TO HIDE?
Posted By: food4thought
Date: Friday, 11-May-2012 14:43:45

The Media are spreading the smokescreen, but what's the REAL story?
They're hoping to merely suffer "embarrassment," but I think there's much more here.
Maybe they're still trying to swallow all those derivatives that were taken off the books but never went away, but that could have been done more quietly.
No, they seem to be saying "look over here" and hoping that we won't see whatever is going on behind the curtain.
Stay tuned.
- - - - -
JPMorgan Hit by ‘Egregious’ Trading Loss of $2 Billion
JPMorgan Chase, the biggest U.S. bank by assets, said it suffered a trading loss of at least $2 billion from a failed hedging strategy, a shock disclosure that hit financial stocks and the reputation of the bank and its CEO, Jamie Dimon.
For a bank viewed as a strong risk manager that went through the financial crisis without reporting a loss, the errors are embarrassing..."
More...
http://www.cnbc.com/id/47377555

No comments: