Senate Banking Committee to ask Dimon to testify

WASHINGTON Thu May 17, 2012 3:04pm EDT

WASHINGTON May 17 (Reuters) - JPMorgan Chase & Co Chief Executive Jamie Dimon will be invited to testify before Congress over the recent trading losses announced by the bank, U.S. Senate Banking Committee Chairman Tim Johnson said in a statement posted on the committee website.

Johnson did not say on what date the committee wants Dimon to appear but said it would be following a set of hearings that will conclude on June 6.

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Comments (2)
wrote:
Now here’s a real treat, they made a mistake, they goofed-up, they got caught! The new language of Guilt on Wall Street and within the Banking Industry skirts the Law, keeps in place the old methods of doing business with taxpayer funds front and center… when the hell do these Players find themselves shackled and incarcerated? They made a mistake, pushed the wrong key, fell asleep at the wheel, didn’t see their greedy strategy being undone by foreign investors. What exactly was that investment strategy, what Investment House got the majority of those lossed dollars… seriously! Can we determine just what the particular facts were that involved the American Taxpayers in this ongoing case with Hedge Fund Speculators and their Credit Default Swaps without putting JP Morgan Chase interest ahead of the Law as we have been doing? We goofed, but our Ace in Hole, the American Taxpayers… they will surely suffer the consequential cost of this loss in the long-term… moving Forward, as Obama would have you further off-guard and distracted with another trivial side-bar issue! Who got the Lion Share of that 3 Billion Dollar Loss… that’s the question we should be demanding our leadership answer. We need to Identify this other Traitor working our financial markets to make sure a KICKBACK isn’t in the offering… is Bernie Madoff Back in Action from behind Federal Bars! Too Big to Fail, Too Big to Prosecute, they are the Government… let’s wait a few years like we did with Bernie, let’s get all we can out of this Turnip.

May 17, 2012 3:36pm EDT  --  Report as abuse
Alexbman wrote:
This loss does not suprise anyone who has worked at J P Morgan.
Risk controls are weak and self interest is king.
Don’t understand why the execs are not tried and convicted like the Enron mob.

May 17, 2012 4:05pm EDT  --  Report as abuse
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