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Archive Home > 2010 > October > 19 > Banks share clients’ profits, but not their losses

Banks share clients’ profits, but not their losses

By Louise Story / The Bulletin
October 19, 2010

JPMorgan Chase & Co. has a proposition for the mutual funds and pension funds that oversee many Americans’ savings: Heads, we win together. Tails, you lose — alone.

Here is the deal: Funds lend some of their stocks and bonds to Wall Street, in return for cash that banks like JPMorgan then....

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