What does everyone think about JP Morgan after the $2 Billion loss??

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Moneytalks
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What does everyone think about JP Morgan after the $2 Billion loss??

Postby Moneytalks » Fri May 11, 2012 10:45 pm

Any thoughts, good rants about banks, etc?? Yes I'm bored....
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FastSRT8
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Postby FastSRT8 » Fri May 11, 2012 11:00 pm

They will look to claw back at their losses a little at a time. It's amazing how much you can get back with a large customer/client base
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Postby DavidNY » Fri May 11, 2012 11:02 pm

Sounds unprofitable to me. Glad I'm not holding any JPM stock.

The bigger they are the further they have to fall.

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Snowman
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Postby Snowman » Sat May 12, 2012 9:35 pm

Good thing I dont bank with J.P. Morgan than. I can only Imagine the stock loss the shareholders took. But really 2 bil...
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Moneytalks
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Postby Moneytalks » Sat May 12, 2012 10:52 pm

Snowman wrote:Good thing I dont bank with J.P. Morgan than. I can only Imagine the stock loss the shareholders took. But really 2 bil...


Haha same! Look it up in the news, last time I heard it was $2 billion, perhaps more now, idk..
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Postby agp » Thu May 17, 2012 2:17 pm

... and they're still doing better than Bank of America. :D

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jeffysdad
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Were they really trying to lay off risk...

Postby jeffysdad » Thu May 17, 2012 4:34 pm

What I heard (on NPR, I think) is that they did the trade(s) to lay off risk, that the trade was not a spec trade as part of their proprietary book. Has anyone heard otherwise? I'm inclined to think this is either untrue or only partially true and not the whole story. However, I must say I haven't been paying that close attention. These days, $2B isn't that much, even for a loss, on Wall St.
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Postby tigerhunt2011 » Thu May 17, 2012 5:09 pm

I'm happy I stayed at B of A despite my parents jumping ship to Chase...
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Postby NYC_Dweller » Fri May 18, 2012 11:12 am

major financial institutes take losses all the time. jp morgan took a big hit and announced it to the public.

i think how they handled the situation was correct. Ina Drew "retired" as CIO since it was under her watch that the lost took place. her salary was 14.7 million.

removing one executive is better than laying off 100's of employees.

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jp loss

Postby craigm1 » Fri May 18, 2012 8:24 pm

after they stuck it in every ones a$$ for doubling the minimum payment when you had a really low permanent fixed rate on a credit card balance transfer, I was at 3.99 lifetime interest paying 2.5% minimum they raised it to 5% min some people saw there min. payment go from $800 to 1600 they told me if I wanted to keep the 2.5% minimum payment they would have to double my interest rate, chase what comes around goes around!!!!!!!!!!!!!!!!!

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