JPMorgan Chase gives shocking news . Largest bank in the United
States has revealed a loss of U.S. $ 2 billion due to investment mistakes
.
Chief Executive Jamie Dimon said the investment losses were due to carelessness and wrong judgments . " This is the most famous fault , " he said . " This error is caused by the act itself and this is not the way we do business , " he said .
He reminded , the JPMorgan losses would be increased. "The strategy of risk hedging bank will charge a U.S. $ 1 billion , " he added .
Due to these losses , JPMorgan shares fell by 7 % after one hour the market opens . JPMorgan attenuation was also followed by other banking stocks .
These investment losses will make the performance of JPMorgan slumped . It is estimated , JPMorgan will suffer a loss of U.S. $ 800 million in the second quarter 2012 net profits have increased more .
Chief Executive Jamie Dimon said the investment losses were due to carelessness and wrong judgments . " This is the most famous fault , " he said . " This error is caused by the act itself and this is not the way we do business , " he said .
He reminded , the JPMorgan losses would be increased. "The strategy of risk hedging bank will charge a U.S. $ 1 billion , " he added .
Due to these losses , JPMorgan shares fell by 7 % after one hour the market opens . JPMorgan attenuation was also followed by other banking stocks .
These investment losses will make the performance of JPMorgan slumped . It is estimated , JPMorgan will suffer a loss of U.S. $ 800 million in the second quarter 2012 net profits have increased more .
Source: Kontan
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