Know yer trade

Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:

You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.

AtW replied

13 July 2012, 17:56
Originally posted by cojak View Post

KUATB

I was testing the title of this thread
Leave a comment:
cojak replied

13 July 2012, 16:55
KUATB
Leave a comment:
AtW started a topic Know yer trade

13 July 2012, 15:32
Know yer trade

JP Morgan cuts Q1 profits on fears traders hid losses

The largest bank in the United States said it was reducing its net income for the first quarter by $459m to $4.92bn because it had discovered information that "raises questions about the integrity" of values placed on certain trades.

The much-publicised loss, caused by a bad derivatives trades in its Chief Investment Office (CIO), is more than double the bank's original estimate of $2bn.

The loss and restatement were unveiled with second-quarter results showing a profit of $4.96bn, compared with a $471m loss in same three months last year. The quarter to June includes the bank's disclosure of the trading loss on May 10.

Jamie Dimon, the chief executive of JP Morgan, is under pressure to draw a line under the trading losses that has hits the bank's shares and damaged its reputation.

The bank stunned Wall Street when it disclosed that a series of bets made by the CIO on the health of major companies had triggered the . The CIO’s job is to invest deposits that the bank has yet to lend. " - AtW's comment: there should not be such job in a bank - lending may have been safe but gambling with deposits waiting for safe lending clearly wasn't!

Source: JP Morgan cuts Q1 profits on fears traders hid losses - Telegraph
Tags: None