At first JP Morgan trading losses were reported at $2 billion, then it was $5 billion and now the loss is $30 billion when the decline in the value of its stock is factored in. Could this be the beginning of the end of the Banksters? Many financial pundits believe that the true amount of the losses hasn't been reported that that they are massive. I doubt that anybody really knows the truth or even wants to know the truth because the truth would trigger another government BAILOUT!
An initial $2 billion trading loss has likely resulted in a total loss of more than $30 billion, when you include a 19 percent drop in the bank's stock price. By itself, the trading loss alone might balloon to more than $6 billion, according to one estimate.
Read the rest here
The Huffington Post
Articles | Website