First it was two, then four, now six billion.
But when it comes to derivates it seems that no one really knows the full extent of the numbers if the dams are breaking.
And criminal charges are mounting:
“I see little doubt that someone is going to get charged with fraud,” said Bill Singer, a lawyer at Herskovits in New York who provides legal counsel to securities industries firms, and publishes the BrokerandBroker website. Criminal charges are possible, he added.
The trading losses and possible deception from traders are a black eye for JPMorgan Chief Executive Officer Jamie Dimon, who was respected for keeping his bank consistently profitable during the financial crisis.
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