JPMorgan Set to Pay $750M in London Whale Fines

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Sept. 16 (Bloomberg) –- Bloomberg’s Stephanie Ruhle reports on JPMorgan agreeing to pay at least $750 million to resolve U.S. and U.K. regulatory probes of its record trading loss last year. She speaks with Trish Regan and Adam Johnson on Bloomberg Television's "Street Smart." (Source: Bloomberg)

We have some breaking news for you on jpmorgan.

Bloomberg has learned that jpmorgan is set to pay 750 million dollars in fines related to the infamous london whale trade.

Stephanie ruhle joins us more.

What can you tell us?

People have now set for over a year, jamie dimon himself said the whale has been harpooned.

It is over.

That has not been the case.

Today we may be able to see that.

These are the trading losses associated with the derivative business.

They lost over $7 billion.

Collett $7 billion.

They are paying $750 million in fines.

S.e.c. just paid 16 -- $600 million.

This is a big number.

Jpmorgan can officially say "we are done.

It is behind us." what are the takeaways?

Will they have to be more vigilant?

Quack without a doubt.

They have been shrunk down so much.

Even at the time the london whale did not have a counterpart at other banks.

The cio at other banks was nonexistent.

If you factor in the london whale losses, dodd /frank and evil girl, they are looking more like agents.

They were trying to go back to standard broker business.

We were talking about it earlier.

We were debating the merits of glass-steagall, whether that needs to be rocked back.

They commercial banks risking people's assets because of this cloudy and murky territory.

This text has been automatically generated. It may not be 100% accurate.

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