After losing $2.2 billion (and rapidly rising ) in mark-to-market losses in credit derivatives, the multi-trillion dollar global product JPMorgan created and claims it manages well. Everyone is guessing about JPMorgan's ultimate losses. The Wall Street Journal reported on May 18 losses could potentially be as much as $5 billion, or more than 25% of JPMorgan's profits last year, but no one knows for certain, and ultimate losses could be smaller or much greater.