Points)on 5/22/12 at 7:30am
As the loss toapproaches a reported $5 billion, I thought it would be a good time to post a video explaining what really happened and who was behind it. Not surprisingly, the Wall Street Journal does a great job with the following video. The bank is struggling to unwind the trades and the other traders in the market are seizing the opportunity to make JPM suffer. I'm not sure Jamie Dimon will survive this, especially if the loss plunges the bank into the red for the next quarter. What do you think? Will Dimon get to keep his job? And did he just hand regulators everything they need to ban prop in London?