The JPMorgan story so far

April 5: The Wall Street Journal reports that Bruno Iksil, a JPMorgan trader known as the "London Whale," made bets so big they were distorting a little-known market in credit derivatives. Iksil's trading unit, called the chief investment office, was created to manage the bank's exposure to complicated global financial transactions.

April 10: Reports say Iksil stops making trades.

April 13: Company reports first-quarter earnings. CEO Jamie Dimon calls media coverage on matter a "tempest in the teapot."

Thursday: The company says it has taken $2 billion in losses so far in the second quarter related to the trading. Dimon calls the strategy "flawed, complex, poorly reviewed, poorly executed and poorly monitored."

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