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June 25, 2012

U.S. Banks Are Unprepared for Euro Crisis

Simon Johnson, Bloomberg

AP Photo

What are the odds that JPMorgan would lose no more than $50 billion on assets of $4 trillion, much of which is complex derivatives, in a euro-area breakup, an event that would easily be the biggest financial crisis in world history?

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TAGGED: JP Morgan, Germany, United States, Eurozone, Europe

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