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Thu June 28, 2012
Originally published on Thu June 28, 2012 12:34 pm
RENEE MONTAGNE, HOST:
NPR's business news starts with a possible deeper debt for JPMorgan.
(SOUNDBITE OF MUSIC)
MONTAGNE: You may recall that in May, JPMorgan Chase announced it had lost $2 billion in a bad trade. The bank's chief, Jamie Dimon, had said that the losses could double. And now, this morning, The New York Times reports they could as much as $9 billion. If that's the case, it will escalate the debate over how much big banks should be regulated. JPMorgan Chase did not comment on The Times report. More on the losses should be revealed next month when the bank reports its second quarter earnings. Transcript provided by NPR, Copyright National Public Radio.