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JPMorgan Execs Who Bungled Billions May Have To Return Bonuses, Stock

Along with saying, again, that his bank "let a lot of people down" when it lost more than $2 billion, JPMorgan Chase CEO Jamie Dimon added this prediction during his testimony before the Senate Banking Committee this morning:

"It's likely that there will be clawbacks."

Translation: The bank will move to recover stocks and bonuses paid to the executives responsible for the losses it suffered because of some risky trades that went very bad.

According to The Associated Press, "under bank policy, Dimon said, stock and bonuses can be recovered from executives, even for exercising bad judgment. The policy has never been invoked, he said."

Dimon's prepared testimony is posted here.

The AP adds that "the start of the hearing was delayed by demonstrators in the room who shouted about stopping foreclosures. Another demonstrator shouted, 'Jamie Dimon's a crook." At least a dozen people were escorted from the hearing room."

Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

NPR

At 81, Disney's First African-American Animator Is Still In The Studio

First hired in the 1950s, Floyd Norman is still drawing. "Creative people don't hang it up," he says. "We don't walk away, we don't want to sit in a lawn chair. ... We want to continue to work. "
NPR

America's Real Mountain Of Cheese Is On Our Plates

To help dairy farmers hurt by a glut, the USDA said this week it'll buy $20 million worth of cheese and give it to food banks. But we eat so much of the stuff, that's hardly a drop in the bucket.
WAMU 88.5

Friday News Roundup - International

Italy searches for survivors after a devastating earthquake. Turkey escalates its role in the fight against ISIS. And Colombia and the FARC rebels sign a peace treaty ending a half-century-long guerrilla war. A panel of journalists joins guest host Derek McGinty for analysis of the week's top international news stories.

NPR

WhatsApp Will Start Sharing Data, Including Phone Numbers, With Facebook

It will also test new ways for businesses to communicate with users on the app. The privacy policy changes mark the long-expected move by Facebook to begin making money from the free app.

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