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Report: JPMorgan Execs Were Aware of Risky Practices

HeadlineJun 13, 2012

The Fed director whose company took in the most government aid was Jamie Dimon of the banking giant JPMorgan Chase. The Wall Street Journal meanwhile has revealed a number of top JPMorgan Chase executives were alerted two years ago to the practices of the London-based traders whose risky bets recently cost the bank more than $2 billion. The executives were aware of the traders’ practices as early as 2010, when a single foreign exchange options trade led to a loss of $300 million in a matter of days.

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