Not sure I understand the investigation... So they made a bad trade that lost $2 billion. Businesses lose money all the time. They are in zero danger of going bankrupt. They aren’t asking for the feds to do anything. I fail to see any reason to get all bunged up about this.
LOL
Here’s a good take on this:
The “World’s Largest Prop Trading Desk” Just Went Bust
http://www.zerohedge.com/news/worlds-largest-prop-trading-desk-just-went-bust
The issue isn’t that they made a bad trade and lost $2 billion. The issue is that less than a month before announcing the $2 billion loss (which, by the way, will likely end up being more than $2 billion, possibly much more), when rumors started flying around the market about the bad trade, Jamie Dimon publicly called it a “tempest in a teapot.”
The issue the SEC is going to be looking at more than anything else is whether Dimon knew (or should have known) the likely severity of the losses when he downplayed the issue.