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US politicians attack 'London loophole' as JP Morgan boss explains $2bn loss

Reported by Telegraph.co.uk on Tuesday, 19 June 2012 (on June 19, 2012)

Jamie Dimon, chief executive of JP Morgan, defended the bank's decision to locate in Britain large parts of the business that made a shock $2bn (£1.3bn) as US politicians attacked its exploitation of the "London loophole".

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