Member Statements

• CHAIRMAN CARL LEVIN Democrat (MI)
  Download Statement (72.1 KB)
  
• RANKING MINORITY MEMBER JOHN McCAIN Republican (AZ)
  Download Statement (37.3 KB)
  

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

• INA DREW

  Former Chief Investment Officer

  JPMorgan Chase Bank NA

  New York, NY
  Download Testimony (85.4 KB)
  
• ASHLEY BACON

  Acting Chief Risk Officer

  JPMorgan Chase Bank NA

  New York, NY
  Download Testimony (121.7 KB)
  
• PETER WEILAND

  Former Head of Market Risk - Chief Investment Office

  JPMorgan Chase Bank NA

  New York, NY
  Download Testimony (39 KB)
  

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