U.S. banks criticize JPMorgan for whale error

U.S. bank regulators are criticizing JPMorgan Chase for its trading error, which occurred when a French-born trader outsized positions that went awry, reports ft.com The trader, nicknamed “Voldemort” and “the London whale,” lost $2 billion dollars on credit derivatives, which banks are now saying was a failure in risk management. Read more. Also read: JPMorgan […]

By Wire services | January 15, 2013 | Last updated on January 15, 2013

1 min read

U.S. bank regulators are criticizing JPMorgan Chase for its trading error, which occurred when a French-born trader outsized positions that went awry, reports ft.com

The trader, nicknamed “Voldemort” and “the London whale,” lost $2 billion dollars on credit derivatives, which banks are now saying was a failure in risk management. Read more.

Wire services

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