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Jamie Dimon, the chief executive of JPMorgan Chase, during a hearing on Capitol Hill about financial markets, in Washington, April 3, 2008.
Jamie Dimon, the chief executive of JPMorgan Chase, during a hearing on Capitol Hill about financial markets, in Washington, April 3, 2008.
(Doug Mills/New York Times/Doug Mills/New York Times)

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'London Whale' costs Jamie Dimon half his pay

“Tied to thee, thou damned whale!”

That’s Captain Ahab in Moby Dick, but it could also be what Jamie Dimon, the chief executive of J.P. Morgan Chase & Co. is thinking these days.

The so-called “London Whale” trading fiasco cost J.P. Morgan $6.2-billion (U.S.) last year. And now it’s taking a nice bite out of Mr. Dimon’s paycheque.