JPMorgan reveals shock US$2 Billion loss


ricohflex

Senior Member
Feb 24, 2005
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#1
BBC News - JPMorgan reveals shock $2bn trading loss on investments

A unit managing risks made mistakes in hedging. It is not a rogue trader - not done in secret. Does it mean the bank top mgt was not supervising the risky trades properly?
So they are not so wonderful/intelligent after all. Did they deserve the enormous bonuses they used to get every year for the last 20 years?
Some of them earn bonuses (this is just the bonus - not counting the pay) in one year that exceeds what most of us can earn in one lifetime.
 

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dreaming

New Member
Oct 22, 2006
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#2
these figures / number to them is peanuts. they won't understand how painful to lose that sum of money in our shoes. put it this way, they are living in a different world from ours.

think most trader would head straight to pub / health center after work
 

#3
Two billion USD nia. Some "Sovereign Wealth Fund (SWF)" but claimed not to be a "Sovereign Wealth Fund (SWF)" investment corporation lost tens of billions of its taxpayer's hard-earned money and yet a majority of those daft people choose to be apathy about it.
 

CamInit

New Member
Nov 3, 2009
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#4
They earned almost 19billion last year.
 

HazeMaze

New Member
Nov 27, 2011
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#5
The way I see them, remember the movie (IN TIME)? They are consider the higher standard which live in a different "zone" from us. That's my personal point of view, yours might be different.
 

lotus80

New Member
Apr 9, 2012
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Pasir Ris
#6
I don't believe in rogue trading, those days are long gone.

A trader needs to pass through various layers of clearance depending upon how big the bet is.

Rogue trading is their way of coming out clean and blaming someone.
 

dreaming

New Member
Oct 22, 2006
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#7
窃听风云2 tell us all about trading..
 

ricohflex

Senior Member
Feb 24, 2005
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#8
According to CNN, it is a staff of the JPM London office. Lost US$2Billion in 6 weeks. Hedged wrongly in credit default swap on corporate bonds.
 

dreaming

New Member
Oct 22, 2006
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#9
According to CNN, it is a staff of the JPM London office. Lost US$2Billion in 6 weeks. Hedged wrongly in credit default swap on corporate bonds.
and he will walk away scot free.....

it is all about conspiracy and this is a black eat black world.
 

hanzohattori

Senior Member
Apr 16, 2010
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#10
these figures / number to them is peanuts. they won't understand how painful to lose that sum of money in our shoes. put it this way, they are living in a different world from ours.

think most trader would head straight to pub / health center after work
And since its a zero sum game, that would be recorded as two billion revenue in the other side of the trades. Money goes around.
But yea.. sadly even loss in this magnitude does not bring them down to earth..
 

dreaming

New Member
Oct 22, 2006
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#11
And since its a zero sum game, that would be recorded as two billion revenue in the other side of the trades. Money goes around.
But yea.. sadly even loss in this magnitude does not bring them down to earth..
yeah. u are right. maybe the federal wants them to lose it purposely in the market. who knows?
can trace back the money? no way.
lost to whom? don't know.
it is like 洗黑...