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"It's likely that there will be clawbacks," CEO Jamie Dimon told Congress today, invoking a term that those executives certainly didn't want to hear.
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Dimon will say "sorry," but will also say that the bank's $2 billion loss should be kept in "perspective."
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After interviews with more than a dozen current and former executives at the bank, the newspaper concludes that it was warned about bets that would cost it more than $2 billion. A plan to roll them back wasn't properly implemented, the Journal says.