Breaking News Bar
posted: 6/19/2012 10:47 AM

Dimon faces more questions over $2B trading loss

hello
Success - Article sent! close
  • JPMorgan Chase CEO Jamie Dimon will return to Capitol Hill Tuesday to face more questions from lawmakers over a $2 billion-plus trading loss incurred by the bank.

      JPMorgan Chase CEO Jamie Dimon will return to Capitol Hill Tuesday to face more questions from lawmakers over a $2 billion-plus trading loss incurred by the bank.
    Associated Press

 
Associated Press

WASHINGTON -- JPMorgan Chase CEO Jamie Dimon returns to Capitol Hill Tuesday to face more questions from lawmakers over a $2 billion-plus trading loss incurred by the bank.

Dimon is testifying before the House Financial Services Committee. He told a Senate Banking Committee last week that he was aware of the trading strategy used by the investment operation that suffered the loss but that he didn't approve it.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

He said the bank made a mistake and that senior banking executives responsible for the loss will probably have their pay taken back by the company.

The loss disclosed last month has raised concerns that the biggest banks still pose risks to the U.S. financial system, less than four years after the financial crisis erupted.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here