``The OCC began asking JPMorgan last April about its derivatives trades after press reports described contracts arranged by a London-based bank trader, nicknamed the London Whale by hedge funds for the size of the positions he took.

The company ultimately lost $6.2 billion on the trades, saw its reputation and stock price badly damaged, and for six months lost government approval to buy back its own stock.''

Comments: Be the first to add a comment

add a comment | go to forum thread