Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
Our spring member drive has ended, but it's not too late to give. You have the power to help fund the essential journalism that keeps us all informed. Help us close the gap on our spring fundraising goal! GIVE NOW

JPMorgan May Suffer Even Deeper Losses

RENEE MONTAGNE, HOST:

NPR's business news starts with a possible deeper debt for JPMorgan.

(SOUNDBITE OF MUSIC)

MONTAGNE: You may recall that in May, JPMorgan Chase announced it had lost $2 billion in a bad trade. The bank's chief, Jamie Dimon, had said that the losses could double. And now, this morning, The New York Times reports they could as much as $9 billion. If that's the case, it will escalate the debate over how much big banks should be regulated. JPMorgan Chase did not comment on The Times report. More on the losses should be revealed next month when the bank reports its second quarter earnings. Transcript provided by NPR, Copyright NPR.