Undated (Indiana’s NewsCenter) - The chairman and CEO of J.P. Morgan answered for a $2 billion mistake in front of the Senate's Banking Committee.
Jamie Dimon's testimony was postponed briefly due to some rowdy protesters.
Once the room settled down, panel members asked Dimon to explain how J.P. Morgan could lose $2 billion in a trading mistake that originated in the company's London office.
The panel also asked Dimon to explain what oversight and future controls would be put on transactions like that in the future. Dimon said some executives would have part of their pay rescinded because of the trading mistake.
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