JPMorgan Chase Loses $2 Billion In Bad Hedging Trade
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There is some new fallout from the nations largest bank who’s already had its stellar credit rating lowered after JP Morgan Chase, reportedly now under federal investigation, admits it has lost $2 Billion from bad trades in just the past six weeks. Critics are saying that its proof that big banks still do not understand the risks their taking. What about the fallout for the average american will we see massive ripple affects in that industry and in your pocket? Ed Butowsky, wealth manager, financial advisor, and managing partner of Chapwood Investment Management, joins Fox News to discuss what are hedging trades and the true impact of this problem.
Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.