Achilles Macris

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JPMorgan Ignored Scads of Red Flags

Jamie Dimon on hot seat as shareholders meet today

(Newser) - There is likely some hell yet to be paid at JPMorgan after the bank lost $2 billion on bets that were supposed to be hedges. The firm's shareholders are meeting today, and many want to knock CEO Jamie Dimon out of the chairman post, Reuters reports—including the California... More »

Heads Roll at JPMorgan Over $2B Trade Loss

CEO Jamie Dimon will accept at least three resignations

(Newser) - JPMorgan's disastrous $2 billion trading loss has officially claimed its first casualty. Chief Investment Officer Ina R. Drew, a 30-year veteran of JPMorgan and one of Wall Street's most prominent women, retired today, the AP reports. Drew was responsible for overseeing the disastrous trades. Executives say she ordered... More »

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