Will this "trading disaster " for JP Morgan ever come to an end? First thought to be $2 billion in losses, then three billion. Now possibly as high as $9 billion "Easy come, easy go"! Couple these anticipated losses as things "unravel" with the $23 billion in loss of share market value , and you're over $ 30 billion. Yes, you heard right...$30 billion (US Dollars).
The shareholders must be seething . Shareholder actions will be plentiful. What will the Board do? Will their " beloved CEO keep his job? It takes a lot of profitable quarters to make up these kind of numbers. How will Congress ultimately act?
Of course, no one feels sorry for The House of Morgan . Because when you play with fire , sometimes you actually do get "burned"!
Wall Street analyst Steve "SEC " Goldman reporting.
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