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The losses won't seriously hurt JPMorgan, but will weaken confidence in US banks and provide ammo for financial reform.
US President says even Wall Street's "smartest" need regulating, as bank boss admits $2bn trading loss was "stupid".
Chief investment officer quits in wake of US bank's $2bn trading blunder with more senior executives expected to quit.
JPMorgan invented credit default swaps in the 1990s, but practice proved bank's undoing in recent hedging loss.
Investment bank blames "sloppiness and bad judgment" as loss wipes seven per cent off stocks in after-hours trading.
Analysts say credit-default swap portfolio allegedly designed to hedge against losses was not properly priced.
Banks need more capital in case of future financial crises, but financiers say this would slow economic growth.
The Masters of the Universe evaded responsibility and defiantly demanded more sacrifice from their victims, says author.
Portugal hails bond sale a success as it seeks to avoid a bailout to tackle its debt crisis.
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Featured on Al Jazeera
Italy struggles to deal with growing flood of migrants willing to risk their lives to reach the nearest European shores.
Israel's Operation Protective Edge is the third major offensive on the Gaza Strip in six years.
Muslims and Arabs in the US say they face discrimination in many areas of life, 13 years after the 9/11 attacks.
At one UN site alone, approximately four children below the age of five are dying each day.
 
 
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