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May 11, 2012

JPMorgan Loses $2B on Complex Instrument 
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The financial giant JPMorgan Chase has acknowledged a $2 billion loss on
a complex investment package meant to hedge against other risks. The
company says the losses on the portfolio could grow to another $1
billion. Critics say JPMorgan appears to have engaged in "proprietary
trading," and could have potentially avoided the loss had there been
tougher regulations that it has in fact lobbied against.

 

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