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JPMorgan Chase Whale Trades: A Case History of Derivatives Risks and Abuses

Permanent Subcommittee on Investigations

Location: SDG-50 Dirksen Senate Office Building



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Member Statements

Agenda

The Permanent Subcommittee on Investigations held a hearing, “JPMorgan Chase Whale Trades: A Case History of Derivatives Risks and Abuses,” on Friday, March 15, 2013, at 9:30 a.m., in Room G-50 of the Dirksen Senate Office Building. 

The Subcommittee examined matters relating to credit derivative trades made by the JPMorgan Chase Chief Investment Office.  The Subcommittee issued a Subcommittee staff report in conjunction with the hearing summarizing its investigative findings and recommendations.  Witnesses included representatives from JPMorgan Chase and the Office of the Comptroller of the Currency.     

Witnesses

PANEL 1

PANEL 2

  • MICHAEL J. CAVANAGH
    Co-Chief Executive Officer - Corporate & Investment Bank
    JPMorgan Chase Bank NA
    New York, NY
    Download Testimony (626.6 KB)
  • DOUGLAS L. BRAUNSTEIN
    Current Vice Chairman
    JPMorgan Chase Bank NA
    New York, NY

PANEL 3

  • THE HONORABLE THOMAS J. CURRY
    Comptroller of the Currency
    U. S. Department of the Treasury
    Washington, DC
    Download Testimony (73.3 KB)
  • SCOTT WATERHOUSE
    Examiner-in-Charge - OCC National Bank Examiners - JPMorgan Chase
    Office of Comptroller of the Currency
    Washington, DC
  • MICHAEL SULLIVAN
    Deputy Comptroller for Risk Analysis - Risk Analysis Department
    Office of the Comptroller of the Currency
    Washington, DC