Friday, May 11, 2012

JPMorgan Chase Fought Rule on Risky Trading - NYTimes.com

JPMorgan Chase Fought Rule on Risky Trading - NYTimes.com:

 "WASHINGTON — Soon after lawmakers finished work on the nation’s new financial regulatory law, a team of JPMorgan Chase lobbyists descended on Washington. Their goal was to obtain special breaks that would allow banks to make big bets in their portfolios, including some of the types of trading that led to the $2 billion loss now rocking the bank."

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