CNN's Erin Burnett deconstructs JPMorgan's $6 billion loss and stock gain of 6%. Does it add up?
JPMorgan's trading loss: $5.8 billion
JPMorgan said Friday that the loss from the bank's chief investment office's errant trades has totaled $5.8 billion so far this year.
The three managers who led the trading division no longer work at the bank and could lose as much as two years of income, according to JPMorgan. All the traders involved with the so-called London Whale losses have also been "separated" from the bank, without any severance.