‘London Whale’ loss balloons to $US5.8 billion
“This has shaken our company to the core,” CEO Jamie Dimon said. The bank said managers tied to the bad trade had been dismissed without severance pay and that it planned to revoke two years’ worth of pay from each of those executives. JPMorgan said it had lost $US4.4 billion because of the trade from April through June, and its chief financial officer said the bank had […]
