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Thu June 14, 2012
JPMorgan's CEO Calls Losses 'Indefensible'
Originally published on Thu June 14, 2012 5:07 am
The chief executive of JPMorgan Chase, Jamie Dimon, was on Capitol Hill Wednesday, where he tried to explain his company's recent multibillion-dollar trading losses. Dimon told the Senate Banking Committee that the losses were indefensible. He also said the company may try to recover some of the compensation paid to the traders who were responsible.