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Posts Tagged ‘fall of the house of Morgan’

JP Morgan loss: shares, credit, image, all go down

Posted by seumasach on May 13, 2012

While Fitch saw the size of the loss as manageable, “the magnitude of the loss and ongoing nature of these positions implies a lack of liquidity,” the ratings agency said.

FirstPost

13th May, 2012

New York/London: JPMorgan Chase & Co lost $15 billion in market value and a notch in its credit ratings on Friday while a chorus of regulators and politicians reacted to its surprise $2 billion trading loss by demanding stiffer oversight for the banking industry.

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P Morgan trader ‘London Whale’ blows $13bn hole in bank’s value

Posted by seumasach on May 12, 2012

Guardian

11th May, 2012

The City trader at the centre of a $2bn trading loss at JP Morgan Chase had returned to his home in Paris on Friday as the repercussions of the loss spread across the markets.

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