INQUIRER.net: Ex-JPMorgan execs pressed about trading loss

INQUIRER.net Philippine News for Filipinos

Ex-JPMorgan execs pressed about trading loss Mar 16th 2013, 00:53 WASHINGTON— Two former high-ranking executives at JPMorgan Chase faced tough questions from U.S. senators Friday about why the bank played down risks and hid losses from regulators when it was losing billions of dollars.   The hearing was held a day after the Senate Permanent Subcommittee on Investigations issued a scathing report that ascribed widespread blame for $6.2 billion in trading losses to key executives at the nation's biggest bank.   The losses came less than four years after the 2008 financial crisis and hurt the reputation of a bank that had come through the crisis known for taking fewer risks than its competitors. Three employees in the London office... Keep on reading: Ex-JPMorgan execs pressed about trading loss Media files: JPMorgan.jpg (image/jpeg)

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