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Wall Street Sees No Evil As Junky Loans Surpass $1.3T

by thestreet.com posted 1week ago 11 views
Click to view a price quote on JPM. : The Federal Reserve is sounding alarms on the growing risks from loans to companies with poor credit ratings. So are the International Monetary Fund, Standard & Poor's, Fitch Ratings and U.S. Senator Elizabeth Warren of Massachusetts, a top Democratic presidential candidate. But on Wall Street? Executives at big banks including JPMorgan Chase & Co. (JPM) and giant private-equity firms like Blackstone Group LP (BX) say it's not their problem. "Someone's going to get hurt there," JPMorgan CEO Jamie Dimon said of the junk-loan market on a conference call last month. "That's not our concern."

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