SYDNEY (MarketWatch)
Trading losses at J.P. Morgan & Chase Co. have
surpassed the bank's initial $2 billion estimate by at least $1 billion,
according to report on the New York Times website Wednesday, citing people
familiar with the matter
Last week, the bank's Chief Executive Jamie Dimon
revealed a surprise $2 billion trading loss
The New York Times report said
losses have surged in recent days, as hedge funds and other investors capitalize
on J.P. Morgan's distress, fueling faster deterioration in the underlying
credit-market positions held by the bank
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Billie, with academic training in Fundamental Mathematics and professional experience in Large Multinationals in the Information Technology sector, having held positions in high-level management positions, maintains that it is time to reduce Unproductive Public Expenditure and help the Private Sector in everything that is possible.
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