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Jeffrey Scharf: JPMorgan shows derivatives a zero-sum game – Santa Cruz Sentinel

Jeffrey Scharf: JPMorgan shows derivatives a zero-sum game
Santa Cruz Sentinel
On May 10, JPMorgan and Co. announced that it would lose $2 billion, and possibly much more, on a derivatives trade gone awry. Ironically, this trade was designed to protect the bank against losses on its portfolio of European bonds.

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