In hindsight, CIO’s traders did not have the requisite understanding of the risks they took…
JPMorgan’s chief executive Jamie Dimon is up before the US Senate Committee on Banking, Housing and Urban Affairs on Wednesday, to discuss “A Breakdown in Risk Management: What Went Wrong at JPMorgan Chase?”. (Here’s the testimony Jamie prepared earlier.)
We’ll be following along.
Join FT Alphaville for a special session of US Markets Live on Wednesday — we’ll be covering the hearing from its opening at 10am New York time, 3pm London time, offering a blow-by-blow account of the London Whale circus in room SD-G50 of the Dirksen Senate Office Building.
Alongside Cardiff and Joseph in New York, we’ll be joined by the FT’s Financial and Regulatory correspondent in Washington, Shahien Nasiripour.
See you there!
Some bonus reading…
Occupy SEC’s suggested questions for Jamie – Scribd
The FT’s take on the testimony – FT
The banks that are too complex to exist – Gillian Tett
Our Whale-Watching Tour series – FT Alphaville
VaR, she blew: relive when the losses first broke – FTAV