Here are seven (or so) links at 7AM Eastern.  We will see you later with the daily linkfest.  Good luck out there.

London Whale fail

JP Morgan ($JPM) discloses big losses housed at the CIO’s office.  (Dealbook, WSJ, Bloomberg)

How’d it happen?  (FT Alphaville, Felix Salmon)

How to process unexpected information on a position: the case of JP Morgan’s ‘blunder.’  (A Dash of Insight)

Bank reformers say “I told you so.”  (Dealbook also Big Picture)

Chesapeake Energy

Failure of oversight: time for a new board at Chesapeake Energy ($CHK).  (WSJ)

Chesapeake has got a fondness for off-balance sheet funding.  (Reuters, WSJ, FT Alphaville)


Trying to assess just how much demand for Facebook ($FB) shares.  (Bloomberg, Reuters also Wall Street Social, SAI)

Workday is the next big tech IPO after Facebook.  (SAI also peHUB)

Thanks for checking in with Abnormal Returns. You can follow us on StockTwits and Twitter.