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JPMorgan’s Connections to the House Finance Committee

Wed, 06/20/2012 - 16:19 — Dave Culver
Section(s): 
Business
Government & Politics

  • As CEO Jamie Dimon testifies today (June 19), we lay out JPMorgan’s ties to the committee — and just who is investigating the bank’s big losses.
  • Charting the Cozy Connections between JP Morgan and the Senate Banking Committee.

Cora Currier, ProPublica

JPMorgan Chase Chairman and CEO Jamie Dimon testifies before the House Financial Services Committee on Capitol Hill on June 19, 2012. (Chip Somodevilla/Getty Images)

JPMorgan Chase CEO Jamie Dimon is on Capitol Hill again today (June 19), this time to talk to the House Financial Services committee about the bank's recent multibillion-dollar trading loss. According to his prepared testimony [1], Dimon plans to deliver basically the same [2] remarks he gave the Senate banking committee last week, apologizing but giving few details.

His Senate hearing was hardly a grilling [3]; senators mostly praised him for his "emphasis on continuous quality improvement," in the words [4] of Senator Jim DeMint, R-S.C.

Full story...

Related:

Charting the Cozy Connections between JP Morgan and the Senate Banking Committee, Cora Currier, ProPublica
This morning (June 13), Jamie Dimon, the CEO of JP Morgan Chase, faced a Senate hearing [1] over more than $2 billion in bank losses [2] caused by risky hedges that blew up. Dimon said [3] that the hedges—investments meant to protect the bank—had grown into “complex and hard-to manage risks.” The losses “let a lot of people down, and we are sorry for it.”

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