JPMorgan Execs Harpooned Over $6B London Whale Losses

Law360, New York (March 15, 2013, 8:32 PM EDT) -- Sen. Carl Levin, D-Mich., bashed current and former JPMorgan Chase & Co. executives over the so-called London Whale trades that cost the firm around $6.2 billion, accusing them of misleading regulators and investors about the extent of the bank's losses at a marathon Senate hearing Friday.

Levin, chairman of the Senate Permanent Subcommittee on Investigations, repeatedly challenged testimony from the current and former JPMorgan executives, including former Chief Investment Officer Ina Drew, that they provided appropriate public disclosures of the disastrous losses on derivative positions that...
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