Monday, May 14, 2012

JP Morgan's 'London Whale' Blows $13bn Hole In Bank's Value


The City trader at the centre of a $2bn trading loss at JP Morgan Chase had returned to his home in Paris on Friday as the repercussions of the loss spread across the markets, hereisthecity reports.

Some $13bn was wiped off the value of America's largest bank after it admitted the scale of the trading activities of Bruno Iksil – nicknamed the London Whale for his bullish trading – and his colleagues in the bank's little known "chief investment office"…

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