Might this JP Morgan $2 billion trading loss fiasco land on Capitol Hill?
Sen. Bob Corker (R-TN) has announced that he is seeking a Senate Banking Committee hearing into the JP Morgan blunder, according to MarketWatch. Corker is a member of the Senate Banking Committee and sent a letter to the committee chair Sen. Tim Johnson (D-SD) about his concerns over whether taxpayers are protected from JPM’s losses.
A number of politicians have voiced their outrage at JPM’s losses since it was announced yesterday evening.
Here’s a copy of the letter—