The Buzz: Rival Traders Are Saying That JPMorgan's Loss Could Spiral Up To $7 Billion

There's buzz that JPMorgan's initial $2 billion trading loss in the bank's chief investment office in London related to derivatives trades could spiral up to $7 billion, The Independent reports.

We'd say there's a good chance that these are just numbers plucked out of thin air to put more pressure on JPMorgan….

From the report:

Rival traders reckon that the losses could be as high $7bn. "The markets know pretty much what JP Morgan has and in what sizes," said one trader….

Read more: http://www.businessinsider.com/traders-are-buzzing-that-jpmorgans-trading-blunder-could-be-as-high-as-7-billion-2012-5#ixzz1vbmmZdCb