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Dimon faces tougher questions on $2B trading loss

Reported by Chicago S-T on Tuesday, 19 June 2012 (on June 19, 2012)

WASHINGTON — JPMorgan Chase chief Jamie Dimon had a much tougher reception Tuesday when he returned to Congress for a second round of questions over the bank’s $2 billion trading loss. House lawmakers from both parties pressed Dimon on a number of fronts: Did JPMorgan manage risk properly? Why was the bank trading so much out of its London office? Has the bank become too large and complex to control? The hearing before the House Financial Services Committee was far more combative in tone than Dimon’s appearance last week before the Senate Banking Committee. For his part, Dimon again apologized …

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