Turns Out The London Whale Was Taking Risks Bigger Than The Entire Investment Bank's Risk Level

Yes folks, the JPMorgan credit trader at center of the multi-billion dollar trading loss, Bruno Michel Iksil (aka the "London Whale"), would take huge risks himself that were sometimes bigger than the entire investment bank's risk taking level, Bloomberg News reported citing a source familiar with the situation.

From Bloomberg (emphasis Clusterstock’s):

Iksil’s value-at-risk, a measure of how much a trader might lose in one day, was typically $30 million to $40 million even before this year’s buildup, said the person, who wasn’t authorized to discuss the trades. Sometimes the figure, known as VaR, could surpass $60 million, the person said. That’s about as high as the level for the firm’s entire investment bank, which employs 26,000 people…

Read more: http://www.businessinsider.com/london-whale-bruno-iksil-risk-taking-2012-6