J.P. Morgan’s Efforts to Shield Itself From European Market Fallout Prompted Disastrous Bets
J.P. Morgan Chase & Co. told traders several months ago to make bets aimed at shielding the bank from the market fallout of Europe’s deepening mess. But instead of shrinking the risk, their complicated bets backfired into losses of as much as $200 million a day in late April and early May, people familiar with the situation said.
Category: USBanks
New USBank IRA fee can eat most of savers’ interest
Despite several attempts at consumer-friendly financial reform, banks are still unilaterally changing their contracts with consumers and taking their money.