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LIVE COVERAGE: Jamie Dimon Returns To Capitol Hill To Testify About The $2 Billion Trading Loss

Reported by Business Insider on Tuesday, 19 June 2012 (on June 19, 2012)

LIVE COVERAGE: Jamie Dimon Returns To Capitol Hill To Testify About The $2 Billion Trading Loss

JPMorgan's chief executive Jamie Dimon ext

is returning to Washington, D.C. for round two.

This morning Dimon is testifying before the House Financial Services Committee about the $2 billion (and growing) trading loss the bank revealed last month.

He appeared before the Senate Banking Committee last Wednesday where he maintained the trading loss was an "isolated incident."

He also seemed apologetic at last week's hearing when he said "senior management and myself should have better monitored the CIO office." ext

Some members of the Senate committee was criticized for going too easy on Dimon. Analysts expect, however, that the House may not be such a smooth ride for the CEO as it's committee includes more outspoken anti-Wall Street members like Barney Frank (D-MA) and Maxine Waters (D-CA).

Today's hearing, which starts at 9:30 a.m. ET, will feature two panels.

The first panel's witnesses include *Thomas Curry*, the Comptroller of the Currency, Office of the Comptroller of the Currency; *Mary Shapiro*, Chairman of the SEC; *Gary Gensler*, Chairman of the CFTC; *Martin Gruenberg*, Acting Chairman of the FDIC; and *Scott Alvarez*, General Counsel, Federal Reserve Board of Governors, according to the committee's website ext

.

Dimon will testify on the second panel.

On May 10th, JPMorgan disclosed a $2 billion dollar trading loss ext

in the bank's Chief Investment Office in London related to derivatives trades.

The Securities and Exchange Commission, the Federal Reserve, the Commodity Futures Trading Commission ext

, the Justice Department and the FBI are all said to be looking into the trading loss ext

.

We'll be live blogging the hearing here, so be sure to refresh this page for updates. Make sure to follow @Clusterstock ext

for live Tweets.

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