J.P. Morgan losses

Dimon loses his sparkle

The trading debacle at J.P Morgan raises issues about accountability as well the opacity of hedging activities.
Activists march down Wall Street holding a cutout of Jamie Dimon during a protest against bank practices in New York last week

The exact details of the loss-making trades transacted by the London unit of J.P. Morgan’s chief investment office (CIO) are unclear, but the consequences for the bank’s senior management should be devastating.

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