Friday, May 11, 2012

J.P. MORGAN LOSES $2 BILLION DOLLARS IN TRADING ACTIVITY

The financial news services are all a buzz about the $2 billion trading loss at JP Morgan due to a failed hedging strategy.  They say it hurts the reputation of the CEO and the corporation.  Can't say I'd argue with that any, but as a former credit card customer of JP Morgan, I couldn't help but wonder if maybe they should have treated their credit card customers a little better.  Granted they would still have the loss from the hedging strategy, however former customers like myself may have kept their credit cards and they would have continued to benefit from profits from the credit card accounts.  This latest $2 billion dollar catastrophe is just one more reason I will never invest in JP Morgan stock.

No comments: