Posts Tagged ‘Futures traders’

$2 Billion JP Morgan / Jamie Dimon Trading Loss — No Problem It’s Counter-Trend Friday!

Sunday, May 13th, 2012

It’s 9:30am and the Market is about to open. JP Morgan is already down 7% on the news that they lost $2 Billion in market value and their credit ratings trashed as a result of their failed hedging strategy. Their “Teflon” image shattered. Jaime Dimon, Wall Street’s “Golden Boy” no more. You could hear investment attorneys all over New York sharpening their pencils, their eyes bulging with dollar signs ($$$$$) as they counted how much they would make on the investment failure. (more…)