Nightly News | May 10, 2012
JPMorgan Chase loses $2 billion
JPMorgan Chasesaid it lost about $2 billion tied to synthetic credit securities. The bank said the losses were the result of a lack of internal controls, errors, sloppiness and bad judgment. NBC’s Brian Williams reports.
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This content comes from Closed Captioning that was broadcast along with this program.
>> there was some disturbing news from this nation's largest bank, jpmorgan chase . ceo jamie diamond held a hastily called conference call to announce the company has lost $2 billion in its own trading portfolio and the losses were a lack of internal controls, errors, sloppiness, and bad judgment. diamond said the company could still lose more money on the trading positions. jp morken and other stocks fell in after hours trading.