JP Morgans 'whale' trade may now cost it US$7.5 billion - Audio

interst.co.nz boss Bernard Hickey tells RadioLIVE's Marcus Lush JP Morgans 'whale' trade may now cost it US$7.5 billion, not the US$2 billion initially estimated. Now American states are looking at a class action lawsuit against the banks that Fixed LIBOR. Also Moody's has cut Italy's rating to two notches above junk and NZ may have hit peak power, which is something buyers of SOEs should think about.