Friday, 18 May 2012
They just keep coming
It's pretty hard for a bank to lose a billion all of a sudden, but when, like JPM, it is hiding a hedge fund amongst its federally insured businesses, it happens very quickly as the $2 billion loss of less than a week ago seems to have doubled. A billion here, a billion there and pretty soon you are talking serious money. much more of this and JPM will be looking for a new CEO.