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News Summary: Dimon gets tougher questions on loss

Reported by SeattlePI.com on Tuesday, 19 June 2012 (on June 19, 2012)

News Summary: Dimon gets tougher questions on loss
Associated Press
Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. ext

Updated 02:39 p.m., Tuesday, June 19, 2012

ROUGH RECEPTION: JPMorgan Chase CEO Jamie Dimon got tougher treatment when he returned for a second round of questions from lawmakers over the bank's $2 billion trading loss. He appeared before the House Financial Services Committee, after testifying to a Senate committee last week. PRESSING QUESTIONS: House lawmakers pressed Dimon: Did JPMorgan manage risk properly? Why did the bank trade so much out of London? Has the bank become too complex? REGRETS: Dimon again apologized for the trading loss and the damage it caused. The company has lost about $23 billion in market value since May 10.

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