Arab Today, arab today jpmorgan boss to face lawmakers june 7
Last Updated : GMT 08:52:09
Arab Today, arab today
Arab Today, arab today

JPMorgan boss to face lawmakers June 7

Arab Today, arab today

Arab Today, arab today JPMorgan boss to face lawmakers June 7

Washington - AFP

JPMorgan Chase\'s embattled chief executive Jamie Dimon will be hauled before Congress on June 7 to explain recent huge trading losses, legislators announced Friday. Dimon will testify before the Senate Banking Committee as committee chair Tim Johnson vowed to \"get to the bottom of the massive trading loss.\" Congress, regulators and JPMorgan Chase staff are looking at the actions that led to more than $2 billion in derivatives trading losses. The hearing is likely to be highly politically charged, a proxy for the battle between Democrats and Republicans over Wall Street reform. \"Wall Street continues to need better risk management, vigorous oversight and unyielding enforcement,\" Johnson, a Democrat, said in a statement. \"I expect Mr. Dimon to come prepared.\" Dimon, who has seen the bank\'s share price tumble in the wake of the announcement, has admitted that the trading scheme was \"stupid\" but downplayed the losses, insisting the company was \"still going to earn a lot of money this quarter.\" The scheme, originally aimed to hedge risks, appears to have evolved into a big, aggressive and complex bet on the direction of the economy that went spectacularly wrong. The White House and members of Congress have stepped up pressure for tighter regulation of the banks, including a broad ban on the speculative proprietary trade that has hurt many of them in the derivatives markets.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today jpmorgan boss to face lawmakers june 7 Arab Today, arab today jpmorgan boss to face lawmakers june 7

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today jpmorgan boss to face lawmakers june 7 Arab Today, arab today jpmorgan boss to face lawmakers june 7

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday