Elbow From The Sky On JPMorgan

Via NYTimes.com: "The trading losses suffered by JPMorgan Chase have surged in recent days, surpassing the bank's initial $2 billion estimate by at least $1 billion (and counting), according to people with knowledge of the losses.
When Jamie Dimon, JPMorgan's chief executive, announced the losses last Thursday, he indicated they could double within the next few quarters. But that process has been compressed into four trading days as hedge funds and other investors take advantage of JPMorgan's distress, fueling faster deterioration in the underlying credit market positions held by the bank...".* The Young Turks host Cenk Uygur breaks it down. Source