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Cruse Associates News Article: Whale of a Trade Revealed at Biggest U.S. Bank With Best Control

Unity Vaugh

“We are dead I tell you,” Bruno Iksil, a London-based trader at JPMorgan Chase & Co. (JPM), messaged an associate on March 23, 2012. “It is hopeless now.”

Iksil, a Frenchman who would soon become known as the London Whale because of the size of his trades, had lost $44 million on corporate-credit bets three days earlier and was down more than $500 million for the year, Bloomberg Markets will report in its July issue. He and junior trader Julien Grout, under pressure from their manager, had tri

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  • Unity Vaugh

    I find your article very pleasing but I believe the simple thing to help boost our economy would for people to stop over spending and to pay off the huge amounts of debt that we owe to the creditors. Stop trying to live the all American dream and live a life that your income allows you to be able to.