JPMorgan loses $1.5 billion so far in third quarter

August 12, 2008 by · Leave a Comment
Filed under: Industry News 

The losses keep rolling in.  I expect to continue to see more write-downs and losses into 2009.  Risk spreads are still quite wide and that tells us the market still thinks there are more hidden grenades on balance sheets waiting to explode on unsuspecting investors.  Here is the release.

Release:

Investment bank JPMorgan Chase & Co has incurred losses of about $1.5 billion since the start of July, hurt by turmoil in the credit and mortgage markets and by wider credit spreads and lower levels of liquidity, the company said in a regulatory filing late Monday.

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