http://www.cnbc.com/id/49328091/
There were 5 big debacles, all of which involve trading and derivatives of banks and security firms.
1. J P Morgan, derivative trading, loss of $5.8 billion
2. MF Global, European bonds, loss ??
3. Merrill Lynch, morgage, loss ??
4. Citigroup, CDO, loss of $60 billion
5. Morgan Stanley, mortgage, loss of $9.6 billion
Citigroup loss is the biggest! These are due to failures of risk management oversight!
There were 5 big debacles, all of which involve trading and derivatives of banks and security firms.
1. J P Morgan, derivative trading, loss of $5.8 billion
2. MF Global, European bonds, loss ??
3. Merrill Lynch, morgage, loss ??
4. Citigroup, CDO, loss of $60 billion
5. Morgan Stanley, mortgage, loss of $9.6 billion
Citigroup loss is the biggest! These are due to failures of risk management oversight!
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