The big takeaway from JPMorgan Chase's earnings results isn't that the bank managed to beat expectations and turn in a very profitable quarter. No, the big takeaway is that JPMorgan's "London Whale" problem hasn't finished evolving yet. The bank reported $4.4 billion in second-quarter losses from the ill-fated trades made by JPMorgan's chief investment officer. That brings the tally up to $5.8 billion, with more expected. Perhaps worse, JPMorgan is restating its first-quarter results because traders may have hidden losses from their trades.
Anand gives his thoughts on the situation in the following video.
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