It's never been easier to lose millions of dollars!

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Catchfire Catchfire's picture
It's never been easier to lose millions of dollars!

J.P. Morgan Chase has apologized for accidentally losing $2 billion dollars in May of this year. It was just a "hedging maneuver" gone a bit wrong. The man responsible, Jamie Dimon a.k.a. the "London Whale," has promised (in front of Congress) to really, really never do it again (after similar "maneuvers" laid the world economy in ruin).

Yesterday, a trading firm called Knight Capital suffered a computer glitch which cost them $10-million a minute for 44 minutes. Oops! (Of course, maybe trading thousands of shares a second was a precarious business plan from the get-go)

Who's next to lose around a billion dollars in some zany scheme? Put me in coach!

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