[ by Melanie Gretchen and Howard Haykin ] According to JPMorgan Chase CEO Jamie Dimon, "We will take proper corrective action and it is likely there will be clawbacks." Following its trading loss, currently estimated at between $5 billion and $9 billion, the bank began an internal investigation to determine whether traders are personally responsible for the loss and whether the bank should claw back any money that had been awarded, going back as far back as 2006. The JPMorgan executive most likely to be affected by a clawback would be Ina Drew, who oversaw the bank's Chief Investment Office in London that incurred the billions in trading losses.  Ms. Drew, 55, is a New Jersey native who spent 30 years at the bank.  She retired from JPMorgan Chase shortly after the trading loss was uncovered, in mid-May.  One of the bank’s highest-paid execs last year, receiving a compensation package in excess of $15 million, took home a retirement package worth around $16 million [C-I Note: some reports estimated the package at $21 million] - consisting of stock awards, options and other pay.

[C-I Note: Jamie Dimon has resisted presenting many details about the trading strategy and the issue of supervisory oversight.  Mr. Dimon has repeatedly said the details will come out when the bank reports on its Q2 earnings.  Perhaps, at that same time, the bank will have an update on clawbacks.]

For further details, go to [NY Post, 6/30/12].