Who got the 2 billion that JP Morgan lost?

Discussion in 'Stock Market' started by uscitizen, May 17, 2012.

  1. uscitizen
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    uscitizen Senior Member

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    It had to go somewhere....
     
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  2. zonly1
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    zonly1 Probie still throwin'em

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    being knaive is no excuse
     
  3. waltky
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    waltky Wise ol' monkey Supporting Member

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    Congress `bout to crawl up dey's butt with a microscope...
    :cool:
    JPMorgan Trading Losses Prompts New Probe, Concerns About Wall Street
    May 16, 2012 - JPMorgan is facing increasing pressure to explain recent losses. Last week, the world's largest bank disclosed a loss of at least $2 billion from trades that were supposed to protect the firm from risk. Now the FBI is looking into whether any laws were broken, and shareholders are looking for assurances that it won't happen again.
     
  4. maxroe
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    maxroe Rookie

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    I'm pretty sure we didn't get any of anything anybody lost. :T
     
  5. whitehall
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    whitehall Gold Member

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    Good question. We will get to it as soon as we find out what M.F. Global CEO and former democrat governor of N.J. Jon Corzine did with 1.2 Billion dollars.
     
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  6. Jroc
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    Jroc יעקב כהן Supporting Member

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    This was great I must say


    [ame=http://www.youtube.com/watch?v=S3gGCrjVdwA]Mitt Romney Solyndra Fremont California (May 31, 2012) - YouTube[/ame]
     
  7. whitehall
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    whitehall Gold Member

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    Hooah for Mitt. Put the pressure on.
     
  8. JimBowie1958
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    JimBowie1958 Old Fogey

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    Bet the Sock Monster got it....
     
  9. percysunshine
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    percysunshine Gold Member

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    The other side of the trade.

    It is an interesting topic. Some group like Chase, or Barclays loses a couple billion dollars, but the money did not evaporate, it just changed hands. Someone is always on the other side of the trade, or there would never be a trade in the first place.


    All that housing money that supposedly evaporated in the 2008 realestate bubble? It just traded hands. People who bought a house in California for $50,000, and then sold it 7 years later for $500,000 were the other hands.
     
  10. uscitizen
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    uscitizen Senior Member

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    Actually a lot of "money" never does exist.
     

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