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Thread started by Dave Winer on Sunday, May 13, 2012.

JPM's $2 billion loss? I don't get it

I've heard or read a half dozen reports on the $2 billion loss at JPMorgan, but don't understand why this is such a big deal. To a bank the size of JPM, $2 billion isn't very much money. If a company like GM or Microsoft lost $2 billion on a product, they'd shrug it off and go on. Probably happens all the time. Why is this so important?

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