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A JPMorgan Chase office building in New York, Monday, May 14, 2012. JPMorgan, the largest bank in the United States, is seeking to minimize the damage caused by a $2-billion (U.S.) trading loss, disclosed Thursday by CEO Jamie Dimon. (Mark Lennihan/Associated Press/Mark Lennihan/Associated Press)
A JPMorgan Chase office building in New York, Monday, May 14, 2012. JPMorgan, the largest bank in the United States, is seeking to minimize the damage caused by a $2-billion (U.S.) trading loss, disclosed Thursday by CEO Jamie Dimon. (Mark Lennihan/Associated Press/Mark Lennihan/Associated Press)

Streetwise

Pay clawbacks for executives would be in order on JPMorgan loss Add to ...

JPMorgan Chase & Co. chief executive officer Jamie Dimon wants to keep the regulators out of banking – so here’s his chance to prove his institution is willing to regulate itself.

It’s not enough to push out the people at JPMorgan who were responsible for the $2-billion (U.S.) trading loss that the company disclosed last week, which led to a $14-billion disappearance of shareholder value on Friday. The bank and its board ought to demand those involved return much of their pay.

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