it is $5.8 billion and counting. that s how much the nation s biggest bank said it lost so far from a complex trading scheme that was supposed to hedge against risk. the updated figures came in as the ceo jamie dimon personally briefed analysts on second quarter earnings which still managed to beat expectations. team coverage this morning, alison kosik live at the new york stock exchange to explain how this could impact all of our wallets. let s start with felicia taylor. you re at jpmorgan chase headquarters in new york. we have a healthy bank, o do we have a healthy bank i guess judging by overall earnings? reporter: actually, we do. the point is let s look at the numbers and what we know now as a result of that risky trade. as you mentioned, a $5.8 billion loss. nevertheless, the company was able to absorb the losses and make $5 billion in the second quarter. so when you talk about the health of the bank, no question about it, they had earnings that outpaced expectation.
way our financial system works. regulators, they were aware of some of these trades, but apparently they didn t have a grasp on how quickly you could turn against jpmorgan either. reporter: even with a loss of $2 billion, the bank is still rock solid. after all, they made $19 billion in profits last year alone. the bank as a whole, today, worth $137 billion. but even as the bank weathers the storm, what about our 401(k)s struggling in the middle of it? jpmorgan stock is down more than 12% in just two days, wiping nearly $20 billion in value from the bank. every investor needs to care about this. this is another example of the kind of event that could knock down 401(k) portfolios. reporter: it is now believed two more high-ranking officials could go, and there are also questions about the trader nicknamed the london well because of the size of the bet. it s believed he could go as well. and the annual shareholders meeting couldn t come at a worse time for the bank, later today. th
keep up. it s like riding a tiger the way our financial system works. regulators, they were aware of some of these trades, but apparently they didn t have a grasp on how quickly you could turn against jpmorgan either. reporter: even with a loss of $2 billion, the bank is still rock solid. after all, they made $19 billion in profits last year alone. the bank as a whole, today, worth $137 billion. but even as the bank weathers the storm, what about our 401(k)s struggling in the middle of it? jpmorgan stock is down more than 12% in just two days, wiping nearly $20 billion in value from the bank. every investor needs to care about this. this is another example of the kind of event that could knock down 401(k) portfolios. reporter: it is now believed two more high-ranking officials could go, and there are also questions about the trader nicknamed the london well because of the size of the bet. it s believed he could go as well. and the annual shareholders meeting couldn t come at a