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JPMorgan's Losses 'May Reach $9 Billion'

First it was $2 billion.

Then "as high as $4 billion."

Now there's word from The New York Times that:

"Losses on JPMorgan Chase's bungled trade could total as much as $9 billion, far exceeding earlier public estimates, according to people who have been briefed on the situation."

The total has grown, according to the Times, "as the bank has been unwinding its positions."

It says the bank declined to comment.

As we reported last week, while he declined to tell Congress just how much the losses will end up being, JPMorgan CEO Jamie Dimon had a quip ready when asked if they might approach $1 trillion.

"Not unless this earth is hit by a moon," he said.

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

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When Caravaggio Plays Quevedo In Tennis, The Court Becomes A Sonnet

"It's a little space, well-measured and precise, in which you have to keep the ball bouncing," says Álvaro Enrigue. His book, Sudden Death, pits the Italian painter against the Spanish poet.
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Does "Made in DC" Matter?

D.C.'s first bean-to-bar chocolate maker, Undone Chocolate, got its start in local food incubator space Union Kitchen, part of a wave of interest in locally made products which includes a push for a "Made in DC" logo.

WAMU 88.5

Does "Made in DC" Matter?

D.C.'s first bean-to-bar chocolate maker, Undone Chocolate, got its start in local food incubator space Union Kitchen, part of a wave of interest in locally made products which includes a push for a "Made in DC" logo.

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Password Security Is So Bad, President Obama Weighs In

In unveiling a sweeping plan to fund and revamp cybersecurity, the president asks citizens to consider using extra layers of security besides the password.

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