The worst case scenario seemed to include that, it was $9B if they simply flushed the remainder. But it does remain to be seen where they will end up.
I'm curious though where is the story here? Is it that some bank made a trade they lost money on? Is it the ratio of income to trades? Is it just that 2, 6, 10 billion dollars still seems like a lot?
I understand that JPMorgan can lose credibility, and that credibility gap will lose it customers, but from an economic stand point they are simply meters on the money flow rather than the money itself. So I don't get how their poor planning actualizes in the economy itself.
It's that they're speculating with money from private savings accounts backed by the FDIC. If the company fails the government is on the hook in several ways. Privatization of profit and socialization of risk, etc.
I'm curious though where is the story here? Is it that some bank made a trade they lost money on? Is it the ratio of income to trades? Is it just that 2, 6, 10 billion dollars still seems like a lot?
I understand that JPMorgan can lose credibility, and that credibility gap will lose it customers, but from an economic stand point they are simply meters on the money flow rather than the money itself. So I don't get how their poor planning actualizes in the economy itself.