$2 Billion is now $9 Billion


How many bonuses were paid before this was revealed?

JPMorgan Chase stock declined more than 2 percent on Thursday, making it one of the worst-performing banks, after a published report said its loss on a bad trade could be far higher than the bank first estimated.

The New York Times, citing an internal report at the bank, reported that the loss could reach $9 billion. JPMorgan’s initial estimate was $2 billion when it disclosed the trade in May, although CEO Jamie Dimon said then that the loss could grow.

source: JPMorgan Chase shares fall after report that trading loss may reach $9B – The Washington Post.