By Scott Reckard, Andrew Tangel and Walter Hamilton, Los Angeles Times
Financial giant JPMorgan Chase’s stock sinks 6% after its stunning revelation of ‘egregious mistakes’ in a trading portfolio that lost $2 billion.
Barely four years after Wall Street’s wrong-way bets plunged the world into a financial crisis, JPMorgan Chase & Co. admitted it lost $2 billion from a trading portfolio that was supposed to have helped the bank manage credit risk.
“These were egregious mistakes,”…Read full post
