London Whale

The 'London Whale' saga continues

It's of those mornings where the brass at JPMorgan might not want to read the papers.

Thanks to cooperation from Bruno Iksil, a.k.a. the London Whale, the Justice Department's charged two people for allegedly hiding the size of JPMorgan's $6 billion trading loss.

The penalty for taking a dangerous risk that shakes financial markets is what, exactly?

JPMorgan is likely to settle with the SEC, but the Whale himself won't be facing any criminal charges -- for now.

JPMorgan executives testified to the Senate on the company's estimated $6.3 billion loss related to risky trades and a banker known as the London Whale.

JPMorgan Chase CEO Jamie Dimon spoke this morning about the company's solid quarterly earnings, but all the attention is on the massive $4.4 billion trading loss -- twice what they first thought -- and how the company will sort out the implications.

The highlight of JPMorgan Chase’s second quarter earnings report will be an update on the trading loss by the so-called London Whale.

As more details emerge about JP Morgan's money-losing "London Whale" trade, the goalposts are moving fast and it's harder than ever to explain what's going on.

A financial trader known as the "London Whale" is making a splash on Wall Street, taking a huge bet worth possibly tens of billions of dollars on corporate credit default swaps.