The bank's chief investment office gambled on credit derivatives, <a href="https://www.huffpost.com/entry/jpmorgan-chase-q02-earnings-2012_n_1670629" target="_hplink">losing $5.8 billion</a> (so far), and its trading desk may have tried to hide the losses from the home office. The bank says it is being sued by shareholders over the losses and has gotten subpoenas and requests for information from "Congress, the OCC, Federal Reserve, DOJ, SEC, CFTC, UK Financial Services Authority, the State of Massachusetts and other government agencies, including in Japan, Singapore and Germany."
<a target="_blank" href="http://commons.wikimedia.org/wiki/File:Humpback_Whale_underwater_shot.jpg">MediaWiki:</a> <a target="_blank" href="http://commons.wikimedia.org/wiki/User:Taragui">Taragui</a>