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frankkarl
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JPMorgan Chase and Central Banking

- Frank Shostak - Mise.org

Maybe you could help me understand the derivatives issue. Around $70t for JP alone. I understand that when these instruments are purchased or sold there is a commission involved which is booked real time within the bank`s profit centers. On the other hand that commission is added to the cost base of the derivative. If I understand that there are $700t of derivatives floating around the world, how much of that is already booked commissions please.

Commented 4350 days ago

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Beginning of the headline :On Friday, May 1, 2012, JPMorgan Chase said it suffered a $2 billion trading loss. Some commentators have suggested that the huge loss emanates from so-called proprietary trading or placing risky bets using the bank's money. The loss raised the credibility of the Volcker rule, which restricts banks from trading their own money... Read More

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