Via: Business Insider:
When JPMorgan first announced that its CIO office had blundered into a huge trading loss, the number was pegged at $2 billion, though the company said it could go higher.
loss later reported to be $3 billion…
$5 billion or more?
The nation’s largest bank has said publicly that its losses on the trades have surpassed $2 billion, and people familiar with the matter have said they could over time reach $5 billion.
But the losses could be even bigger if the company sells its positions into a market that has turned against its positions, some traders say. Improvements in the markets could slice the bank’s losses.