On Air Now

Listen

Listen Live Now » 100.3 FM Green Bay, WI

Weather

Current Conditions(Green Bay,WI 54303)

More Weather »
43° Feels Like: 37°
Wind: E 10 mph Past 24 hrs - Precip: 0.12”
Current Radar for Zip

Today

AM Clouds/PM Sun 55°

Tonight

Partly Cloudy 44°

Tomorrow

Partly Cloudy 66°

Alerts

JPMorgan CEO says he should have caught "London whale" trades

WASHINGTON (Reuters) - The chief executive of JPMorgan Chase & Co said he should have caught the "London whale" derivatives trades that resulted in a multibillion-dollar loss for the bank.

"We made a stupid error," Jamie Dimon told an audience at the Council on Foreign Relations in Washington on Wednesday. "I should have caught it ... I didn't."

So far, JPMorgan has estimated its total trading loss at $5.8 billion. The losses stemmed from a London-based trader known as the "London whale" who took large positions in credit derivatives.

(Reporting By Sarah N. Lynch; editing by John Wallace)

Comments