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losses

Uh-oh : Bank Of America Withheld Merrill Lynch Losses

Bank of America's top executives neglected to tell their shareholders about the losses at Merrill Lynch before completing the $50 billion purchase of the company in 2008. Shareholders were instead told of projections showing the deal would

Paul Volcker Responds To Volcker Rule Critic Jamie Dimon

JPMorgan Chase CEO Jamie Dimon has been one of the most outspoken critics of the Volcker Rule, a section of the Dodd-Frank Act that aims to keep the banks in which you deposit your money from gambling it on their own sometimes-risky investments...

JPMorgan Reveals $2B Losses

JPMorgan Chase has disclosed $2 billion in lossesfrom a trading group’s credit investments, causing the bank’s share price to plummet in after-hours trading. Via: Jamie Dimon, the chief executive of JPMorgan, blamed “errors,

JPMorgan Profit Drops 23 Percent

JPMorgan on Friday reported a 23 percent decrease in profits for the last three months of 2011 as a result of big losses in its investment-banking and trading divisions.