What Really Happened To JP Morgan In The Market - A Simple Example

Tyler Durden's picture

On the day of the unexpected JPM conference call in May of 2012, during which the initial extent of the London Whale fiasco was revealed, Zero Hedge presented a full, visual breakdown of everything that, we thought, had happened at the CIO, without any corroborating evidence. In hindsight, our assumptions and conclusions were 100% correct. But for anyone still confused and curious how less than a year ago the most powerful bank in the world put itself at the mercy of a few hedge funds, here is the simple one page summary.