According to Bloomberg, J.P. Morgan just has taken a $2 billion credit derivative dollar loss related to a “hedge”. While analysts have been questioning the loss, my recent comments on the total size of the derivative market will result in further announcements of this size. What will be interesting to me will be how the top five players I previously mentioned will handle the Greek Credit Default Obligations among other derivative financial dominos in the European Union.
http://www.bloomberg.com/news/2012-05-10/jpmorgan-chase-says-cio-unit-suffered-significant-loss.html
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