From the underpaid folks at HuffPo: Before Thursday, the fallout from JPMorgan Chase's $6.2
billion losses from the "London Whale" trade seemed limited to a
scuffed reputation and some uncertain future legal liability. A scathing Senate
report about the trade has changed this calculus, with the nation's largest
bank and its chief executives now possibly to be cast as defendants in lawsuits
and against enforcement actions by regulators, legal scholars said.
"There seems to be plausible reason to believe that
investors were misled,…"
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