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JP Morgan Takes $1.5 Billion Mortgage-Backed Hit in July 

Aug 12, 2008By

That credit crisis we’ve been hearing pretty much non-stop about for over a year hasn’t gone anywhere, if a regulatory filing Monday afternoon by JP Morgan Chase & Co [stock JPM][/stock] is any indication. In a filing with the Securities and Exchange Commission, the investment banking giant said that it took a $1.5 billion writedown on its mortgage-backed positions in July alone.

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Updated 11 months ago