Tuesday, 29. May 2012
Topic: weiss nicht - on May 29, 2012 at 8:43:00 AM CEST
Analysis: JPMorgan dips into cookie jar to offset "London Whale" losses
JPMorgan Chase & Co has sold an estimated $25 billion of profitable securities in an effort to prop up earnings after suffering trading losses tied to the bank's now-infamous "London Whale," compounding the cost of those trades.
CEO Jamie Dimon earlier this month said the bank sold corporate bonds and other securities, pocketing $1 billion in gains that will help offset more than $2 billion in losses. As a result, the bank will not have to report as big an earnings hit for the second quarter.
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