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Corker Hopes JPMorgan Hearing Will Be Substantive

Press Release

Location: Washington, DC

U.S. Senator Bob Corker, R-Tenn., a member of the Senate Banking Committee, today thanked Committee Chairman Tim Johnson for agreeing that the committee should hear directly from JPMorgan Chase & Co. and said he hopes the hearing will be substantive.

"I'm glad Chairman Johnson has agreed that the Banking Committee should hear directly from JPMorgan, and I hope it will be a substantive hearing that examines the complexities of distinguishing between a hedge and a proprietary trade and focuses on the balance of eliminating systemic risk while not removing important tools for normal bank risk management."

On Friday, May 11, Corker sent a letter to Chairman Johnson calling on him to hold a hearing "as expeditiously as possible into the events surrounding the JPMorgan Chase & Co. trading losses."

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