JP Morgan CEO Called To testify Before Congress On $3 Billion Trading Mess

The Senate Banking Committee plans to call JP Morgan Chase CEO Jamie Dimon to testify following the bank’s $3 billion trading loss. “Over the past week, my staff and Ranking Member [Richard] Shelby’s staff have jointly held briefings with regulators regarding the JPMorgan Chase trading loss, as well a briefing with the company itself. Our due diligence has made it clear that the Banking Committee should hear directly from JPMorgan Chase’s CEO Jamie Dimon, and following our two Wall Street reform oversight hearings I plan to invite him to testify,” said Senate Banking Committee Chairman Tim Johnson (D-SD) in a statement. According to Bloomberg News, Dimon has agreed to accept the invitation.