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09:14 PM
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Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 10431499:MV8xODY3MzI3XzMxMTQ2OTA1X0RGRDJCNUMy] [quote:***ClappaGuy***:MV8xODY3MzI3XzMxMTQ2NTY2XzE5OUJCQTlB] [quote:Anonymous Coward 12967179:MV8xODY3MzI3XzMxMTQ2NDk4Xzc4NzlFMTY1] so if morgan lost $2-4.2b who gained that amount? [/quote] It is my understanding that the trade is still ON, the position is moving against them and they can't unwind it. When are they gonna start talking about that? [/quote] Source? [/quote]
Original Message
[
link to online.wsj.com
]
Three high-ranking people are expected to leave J.P. Morgan Chase JPM & Co. this week, said people familiar with the situation, in the latest fallout from a trading blunder that has cost the bank at least $2 billion.
The departures involve three of the highest-ranking executives with direct connections to the losses, according to the people familiar. Those leaving are Ina Drew, who since 2005 has run the risk-management unit that is responsible for the losses; Achilles Macris, who is in charge of the London-based desk that placed the trades; and trader Javier Martin-Artajo, a managing director on Mr. Macris' team, the people said.
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