During this past week the public found out that J.P. Morgan and Chase lost a sum of 2 billion dollars due to trading. There has been an action-class lawsuit on the behalf of investors about misleading shareholders. The justice department initiated a criminal probe but many details are unclear so it’s hard to tell what laws were broken. Even if there were broken laws the bank would have two trillion dollars by their side making  the issue no worry. The details will come out when the investigation gets further along in the process of finding out what led to the company’s multi-million dollar mistake. It’s hard to tell anything because many won’t comment about this issue.

My question on this is how will they get this money back? It was said to be only a profit trade but who really believes two billion dollars was all for profit and not investors money at all?  I wonder if this will affect the future of the bank or the chief Jamie Dimon. A mistake this big should be taken more seriously by the  well known bank of JPMorgan and Chase. I think Chase truly invested on something very risky hoping to get high profits without caring if or how the investors would be affected by a loss or gain of income. There’s not much detail so the only thing the investors can do is watch to see what happens in this case.

~Dan DiLeo