Served up cold: Street sees revenge with Dimon’s stumble
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Subject: Served up cold: Street sees revenge with Dimon’s stumble Tue May 15, 2012 11:38 am
The Street fighter is meeting some Street justice.
Rivals and longtime critics of JPMorgan Chase and its outspoken CEO, Jamie Dimon, appear to be exacting some revenge on the country’s No. 1 bank for past sins.
Many of the hedge-fund counterparties on the other side of JPMorgan’s monstrous trade appear to be making it difficult for the bank to unwind some of the complicated hedging positions cheaply.
It could be payback for when Dimon’s bank raised the ire of some when it threatened to pull Merrill Lynch’s funding in 2008 as it teetered on the brink of collapse.
