JPMorgan’s ‘London Whale’ losses hit $5.8 bn

JPMorgan's 'London Whale' losses hit $5.8 bn (via AFP)

JPMorgan Chase on Friday admitted that losses from botched derivatives trades had soared to $5.8 billion, nearly triple the cost originally predicted, while the bank warned of more red ink to come. The losses — which were linked to a British unit that included a trader dubbed "the London Whale" –…


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