ChartProphet submit:The JP Morgan (JPM) trading blunder could result in a $100 billion loss, a contagion of its massive portfolio, and even the wipeout of its entire asset base. Even worse, these extremely risky and potentially-illegal actions on behalf of the CIO office and the "London Whale" could be the unexpected "shock" that breaks the market, derails the Fed's huge monetary stimulus, and sends us back into a global recession.
By Stock Gazer:The ongoing investigation into rigging in the foreign exchange market led to a $1 billion hit in terms of legal fees for JPMorgan Chase & Co. (NYSE: JPM). Investor confidence also took a hit as shares fell alarmingly. JPMorgan is still fighting the allegations of rigging in the forex market and is negotiating foreign exchange settlements over a number of platforms.