Click here to show or hide the menubar.
Thread started by Dave Winer on Sunday, May 13, 2012.

JPM's $2 billion loss? I don't get it

I've heard or read a half dozen reports on the $2 billion loss at JPMorgan, but don't understand why this is such a big deal. To a bank the size of JPM, $2 billion isn't very much money. If a company like GM or Microsoft lost $2 billion on a product, they'd shrug it off and go on. Probably happens all the time. Why is this so important?