A New York City Police officer stands at the entrance to the JP Morgan Chase World Headquarters in New York. The U.S. Justice Department, FBI and others have opened an investigation into JPMorgan Chase’s more than $2 billion trading loss. Photo by TIMOTHY A. CLARY/AFP/GettyImages.
For more than two hours Wednesday morning, Jamie Dimon, chairman and chief executive officer of JPMorgan Chase, gave testimony and answered questions from the Senate Committee on Banking, Housing and Urban Affairs over a $2 billion loss from derivative trades that the company announced on May 10.
“I’m absolutely responsible,” Dimon told the committee toward the end of the hearing. “The buck stops with me.”
We’ll have more soon from business and economics correspondent Paul Solman online, and on the NewsHour this evening.
Meanwhile, you can view the NewsHour reporting leading up to Wednesday’s events here:
- FBI to Probe JPMorgan Practices After Trading Loss