Like Moby Dick, the “London Whale” just won’t die. Despite JPMorgan Chase CEO Jamie Dimon’s best
efforts to put the embarrassing $6 billion trading debacle behind him,
lawmakers appear intent on dredging it up again.
Yesterday, the Senate Permanent Subcommittee on
Investigations, run by Sen. Carl Levin (D-Mich.), scheduled a March 15 hearing
to examine the massive wrong-way derivatives bet that blew a $6.2 billion hole
in the bank’s balance sheet.
The committee hasn’t released the names of those who will be
called to testify, but the list is likely to include Dimon, former finance
chief Doug Braustein and Ina Drew, who oversaw the bank’s Chief Investment
Office, which originated the disastrous trade….
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