The battle for control of JPMorgan has been drawing an enormous amount of attention.

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The Jetlev design is still in its early days, says Mr. Katz, and a friendlier, more forgiving control mechanism is certainly on the drawing boards for Jetlev 2.0.

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"They did give an apology but as the session went on, I think they were drawing back from that and saying, look, there were events beyond our control, " John McFall, the committee chair, told me afterwards.

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