JPMorgan May Post $7.5 Billion in Losses from the London Whale

JPMorgan Chase & Co. (NYSE:JPM) just reported their second quarter earnings with a $5 billion profit (or $1.21 per share compared to $1.27 per share  profit in last year ). The bank suffered a $4.4 billion loss from the trading fiasco in London. JPMorgan Chase & Co. (NYSE:JPM) did manage to post a decent profit for this quarter despite of the lackluster predictions that were given by analysts earlier this week. The bungled trades that have cost the bank dearly with a sum of $5.8 billion so far are expected to rise even further with an addition of $1.7 billion, as indicated by Jamie Dimon,…