North Carolina Sen. Kay Hagan, a member of the Senate Banking Committee, on Wednesday had a chance to question JPMorgan Chase CEO Jamie Dimon on how the bank botched $2 billion in bad bets.
Hagan, a former bank attorney, asked about the size of the trade, how it was possible that such a large trade did not come to the attention of management, the rationale for making the changes to the value-at-risk models and when those decisions were made.
