` JP Morgan's $2B Loss Causes More Worry In Banking Industry

JP Morgan’s $2B Loss Causes More Worry In Banking Industry

on May 13, 2012 in Fox Business, Media Center by Ed Butowsky | No Comments »

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Friday started off as a down day and the reason for that was the announcement by JP Morgan Chase. They are going to loose $2 billion, maybe more, because of bad trades out of their London office. Jamie Dimon, Chairman and CEO of JP Morgan Chase, stepped up and took responsibility stating that the bank made a mistake. As a result, the stock market on Friday opened negatively. This news coming out of JP Morgan Chase is giving investors, advisors, and analysts a flashbacks of the panic of 2008. Ed Butowsky, wealth manager, financial advisor, and managing partner of Chapwood Investment Management, joins Fox Business’ Varney & Company to examine if the severity of this announcement and how it compares to the panic of 2008.

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.

 


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About Ed

Ed Butowsky is a nationally-recognized expert in investment management. Butowsky has been in the financial services industry for over 25 years. He was previously a Senior Vice President at Morgan Stanley and a Managing Director ... More »

Contact

Ed Butowsky, Managing Partner
Chapwood Capital Investment Management, LLC
Website: www.chapwoodinvestments.com
Email: ed@chapwoodinvestments.com
Phone: (972) 865-2225