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Friday, June 29, 2012

JPM whaling loss could jump to $9B.

 JPMorgan's (JPM) trading loss could reach $9B, the NYT reports, with red ink piling up as JPM moves faster than expected to exit its money-losing positions. Jamie Dimon was way off when he warned in May that the initial $2B loss could double in coming quarters. JPM will disclose more details in its July 13 earnings report. Shares were -5.4% premarket.

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