Despite generating a $4.4 billion trading loss, JPMorgan Chase reported a second quarter profit of $5 billion, which was down 9 percent. In May, the bank initially reported the trading losses were $2 billion. The financial giant says it will have to restate its first-quarter earnings as traders may have misstated positions in attempts to reduce losses on the failed investments.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- The real story behind Deliver Us From Evil
- How the South's ugly racial history is haunting ObamaCare
- 43 TV shows to watch in 2014
- Stop making fun of philosophy and read some philosophy
- What if Leo Strauss was right?
- Beware of Splenda: The backlash against artificial sugars
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- 6 things the happiest families all have in common
- If Democrats abandon immigration reform after Tuesday's likely loss, they will turn 2016 into a debacle
- How to live a long life, according to science
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