JPMorgan Chase actually had estimate loss of $3.2 billion to $80 billion a year.

[Neotrotsky]

JPMorgan Chase actually had estimate loss of $3.2 billion to $80 billion a year.


Oh wait that was actually the Post Office-

USPS reported a typical (for it) $3.2 billion loss for the most recent quarter.

Medicaid and Medicare Fraud
$80 billion a year.
-----------------------------------------------------------

Ok

It's safe
The Left can go on grandstanding about JPMorgan's 2 billion loss

 

[waltky]

JPMorgan gets spanked...

Biggest US Bank Agrees to Huge Fine in Trading Case
September 19, 2013 ~ The biggest U.S. bank, JPMorgan Chase, has agreed to pay $920 million in fines to American and British regulators for its "unsafe and unsound" monitoring of complex securities trading in its London office.

The penalties were announced Thursday, the latest chapter in multiple investigations into the bank's trades that cost it $6.2 billion in losses last year. Under the agreement, JPMorgan Chase agreed to pay $700 million to three U.S. financial regulators, including its central bank, and $220 million to Britain's Financial Conduct Authority. Later in the day, the bank settled another case, agreeing to pay $80 million in fines to the U.S. over allegations that it duped credit-card customers into buying extra services they did not want. The bank has already refunded $309 million to more than 2 million of its customers in the matter.

In agreeing to the fines in the securities case, the bank acknowledged that it did not have adequate controls in place to keep track of the financial trades being made in the London office, and that officials did not disclose the mounting losses to Chase's senior management or regulators. Many of the errant business deals were made by Bruno Iksil, a trader whose losses were so huge he became known as the London Whale.

A JP Morgan Chase & Co sign is seen outside of the bank's headquarters in New York

As the company's losses became known, its stock market value plummeted by nearly $51 billion. Four senior JPMorgan Chase executives have left the bank as a result of the losses, and the salary of the firm's prominent chief executive, Jamie Dimon, was cut in half.

U.S. criminal prosecutors are still investigating the trades, as are commodity trading regulators. American authorities have also launched a bribery investigation into whether JPMorgan Chase hired the children of prominent Chinese officials to help it win business deals in China.

Biggest US Bank Agrees to Huge Fine in Trading Case

 

[francoHFW]

IOW, they paid 380 million dollars back to cheated consumers because of the new Consumer Protection Agency that Pubs HATE...Pub dupes....

 

[waltky]

Mebbe it was the hackers...

Hired-gun hacking played key role in JPMorgan, Fidelity breaches
13 Nov.`15 - When U.S. prosecutors this week charged two Israelis and an American fugitive with raking in hundreds of millions of dollars in one of the largest and most complex cases of cyber fraud ever exposed, they also provided an unusual look into the burgeoning industry of criminal hackers for hire.

The trio, who are accused of orchestrating massive computer breaches at JPMorgan Chase & Co <JPM.N> and other financial firms, as well as a series of other major offences, did little if any hacking themselves, the federal indictments and a previous civil case brought by the U.S. Securities and Exchange Commission indicate.

Gery Shalon (L), who is accused by U.S. authorities of engaging in a stock manipulation scheme involving U.S. penny stocks, arrives at a courtroom at the Jerusalem Magistrates Court​

Rather, they constructed a criminal conglomerate with activities ranging from pump-and-dump stock fraud to Internet casino break-ins and unlicensed Bitcoin trading. And just like many legitimate corporations, they outsourced much of their technology needs.

"They clearly had to recruit co-conspirators and have that type of hacker-for-hire," said Austin Berglas, former assistant special agent in charge of the FBI's New York cyber division, who worked the JPMorgan case before he left the agency in May. "This is the first case where it's that clear of a connection." Berglas, who now heads cyber investigations for private firm K2 Intelligence, said additional major cases of freelance hacking will come to light, especially as more people become familiar with online tools such as Tor that seek to conceal a user’s identity and location.

RENTED TIME

 

[francoHFW]

JPMorgan Chase actually had estimate loss of $3.2 billion to $80 billion a year.


Oh wait that was actually the Post Office-

USPS reported a typical (for it) $3.2 billion loss for the most recent quarter.

Medicaid and Medicare Fraud
$80 billion a year.
-----------------------------------------------------------

Ok

It's safe
The Left can go on grandstanding about JPMorgan's 2 billion loss

The USPS mainly because of bs that Pubs saddled them with because of ideological insanity and greed.