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JPMorgan fine equivalent of three minutes of profit

Minutes To Midnight

The world’s biggest bond dealers, including JPMorgan and Morgan Stanley, failed to properly report trades to the industry’s price-tracking system more than 11,000 times. JPMorgan’s penalty: About three minutes of its annual profit.



Box Hedge

The second coming of Steven Cohen

Conceived as an emergency exit strategy and incubated under intense pressure, Steve Cohen's second corporate incarnation has developed into a childhood prodigy.