Hit for J.P. Morgan could be huge

Enron-linked energy-trade venture could cost bank $1 billion

By Jathon Sapsford and Anita Raghavan
THE WALL STREET JOURNAL

Jan. 25 — When J.P. Morgan & Co. set up an energy-trading business in the British Channel Islands a decade ago, the tiny venture barely caused a ripple at the giant bank.

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