Managing The 8th Risks (Weight 20%) Referring to April 2012 case, CDS (Credit Default Swap) has brought JP Morgan - London into large trading losses known as rouge trader case. The loss was amounting to $6 billion. Question: Explain whether the losses suffered by Bruno Iksil (nickenamed the London Whale) was due to market risk, operational risk, legal risk, or credit risk? Support your answer with clear arguments.