Find it hard to believe that these execs overseeing this trader allowed it to get to anyting like those numbers. They knew about this guy for a few months. I would imagine they took away his keyboard away a long time ago. Like others who use hope as a stategy they were probably praying the direction of the trade would change and when it only got worse they figured it was time to tell the Street and cut their losses. It might be a few billion more than 2. The market is in a punishing mood the last month or so. It always misprices equities in the early stage of a news story. In the next day or so when the facts come out it will become a screaming buy. A lot of homework and investigating will be done over the weekend and more fact will be out by Monday. This guy on the link that says its more like $18 billion is he the same guy who predicted the world would end twice in 2011? I love to short but you better pay attention to the newsflow the next couple of days because this thing could snap back to $39-$40 real quick if it turns out to be about $2 billion. Wall Street has a short memory!