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News Link • Economy - Economics USA

JPMorgan Hit by ‘Egregious’ Trading Loss of $2 Billion

JPMorgan Chase, the biggest U.S. bank by assets, said it suffered a trading loss of at least $2 billion from a failed hedging strategy, a shock disclosure that hit financial stocks and the reputation of the bank and its CEO, Jamie Dimon.

1 Comments in Response to

Comment by Powell Gammill
Entered on:

No worries. That trifling amount of money probably equates to less than the amount of interest they "earned" off of the first round of taxpayer money they received in Bush bailout #1.

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