Last week, JP Morgan Chase announced that they had lost $2 billion on risky bets. Over the weekend, Chief Executive Officer Jaime Dimon of JP Morgan appeared on Meet the Press and admitted they have been sloppy about their investments after the $2 billion loss. Max Fraad Wolff, senior analyst of Greencrest Capital, joins us for more.
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2M loss
Did anyone verify this loss? Was it a trading loss or other loss explained as a trading loss? Like the shorts on the airlines just before 911 it would have been easy for JP to profit from the announcement knowing their stock would drop.