JPMorgan Chase ignored internal controls and manipulated documents s the nation’s biggest bank racked up trading losses last year,, while its influential chief executive, Jamie Dimon, briefly withheld some information from regulators, a new Senate report says.
The findings by Senate investigators shed new light on the $6.2 billion trading blunder, which has claimed the jobs of some top executives and prompted investigations by authorities. The 300-page report, released yesterday, will escalate the debate in Washington over regulating Wall Street.
A Senate subcommittee plans to question bank executives and regulators in a hearing beginning at 9:30 A.M. today. DealBook will be live-blogging the hearing.
