News Summary: Dimon gets tougher questions on loss

AP News
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Posted: Jun 19, 2012 5:37 PM
News Summary: Dimon gets tougher questions on loss

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.