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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 383.15

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To: Haim R. Branisteanu who wrote (90466)	5/21/2012 5:33:38 PM
From: TobagoJack	Read Replies (1) of 218031

The jpm numbers are ratcheting up, as one should expect. I reiterate 18. In the mean time this blog hereisthecity.com is fun chatter for happenings in London hereisthecity.com You Won't Believe How High Some Say That JP Morgan Trading Loss Will GoThe Wall Street Journal reported Friday that it could reach $5bn, but others think that that's a conservative estimate. CNN reports that one thing seems clear about JPMorgan Chase's $2bn trading loss. It's no longer $2bn. It's likely much higher. The number being bandied about now is closer to a range of $6bn to $7bn, according to several people working on trading desks that specialize in the derivatives JPMorgan used to make its trades, and from two sources with knowledge of the bank's positions. Of course, it is impossible to know with absolute certainty just how high the losses are at any given moment, but experts have said there are few scenarios in which hedge funds on the other side of the bank's giant bet will let JPMorgan out of it without significantly more pain. In the meantime, the trading loss has caused a number of US lawmakers to rethink bank regulation, with many now insisting that a tougher stance is called for. But not everyone agrees that more regulation is the answer. Reuters reports that U.S. House of Representatives Speaker John Boehner said in an interview aired on Sunday: 'I don't believe there's anything in Dodd-Frank (financial reform law) that would've prevented this activity at JPMorgan....There's no law against stupidity. No law against stupid trades'. Finally, the news agency reports that the Commodity Futures Trading Commission (CFTC) has opened an investigation into possible wrongdoing at JPMorgan Chase & Co in connection with the bank's multi-billion-dollar trading loss, a source familiar with the probe told Reuters. The agency will soon disclose the existence of the investigation, the source said on Friday.

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