There commodity division still exists headed by Blythe Spirit. They lost $250 million on coal futures one quarter last year by shorting futures then buying back at a higher price, taking a long position at the top then watched the price go down. I still don't know how they keep avoiding reporting losses on the precious metal shorts unless they are long somewhere else in the bank or receiving some kind of compensation that they are netting against the future losses.

http://www.bloomberg.com/news/2010-08-03/blythe-masters-says-don-t-panic-over-jpmorgan-commodities-loss-job-cuts.html

Blythe Masters
Head of Global Commodities

Blythe Masters is J.P. Morgan's head of Global Commodities, and is responsible for the global team that provides integrated physical and financial commodity solutions products for clients. The business provides market-making, structuring, risk management, financing and warehousing capabilities across a full spectrum of commodity asset classes. She was named to this position in 2007, and since that time she has also served on the JPMorgan Chase Executive Committee.