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  • COMMENTARY: Morgan Chase shows how little we have learned

    Patriot Ledger - 05/16/2012

    Just when you thought America’s megabanks were safe and sound, JPMorgan Chase disclosed that it had lost at least $2 billion in just six weeks. The loss was suffered on high-risk investments in a portfolio of complex financial instruments known as derivatives. Ironically, it was incurred by a trading group within the bank that was supposed to manage the risks the bank takes with its own money.