- Securing America: IED ProtectionPosted 12 hours ago
- Foreign Dispatch: Crimea ConundrumPosted 2 days ago
- FOX Country: Toby Keith Announces Tour Dates Via YouTube [VIDEO]Posted 2 days ago
- FOX In The Fast Lane: NASCAR Heads To Las VegasPosted 2 days ago
- FOX On Tech: Oscar ‘Selfie’ Takes Twitter To New HeightsPosted 3 days ago
- FOX in the Fast Lane: ‘Duck Dynasty’ Company to Sponsor NASCAR RacePosted 1 month ago
- VIRAL VIDEOS: Week of January 31stPosted 1 month ago
- Housecall for Health: A Fit New YearPosted 2 months ago
- Barbecue Tips From A PitmasterPosted 8 months ago
JPMorgan CEO Dimon Apologizes on Capitol Hill
JPMorgan Chase’s top executive is telling Congress what happened with his bank’s big investment losses.
FOX News Radio’s Rich Johnson reports on Capitol Hill:
A major mea culpa from Chase CEO Jamie Dimon over attempts by the bank’s ‘Chief Investment Office’ to reduce its exposure to big financial calamities.
(Dimon) “This portfolio morphed into something that, rather than protect the firm, created new and potentially larger risks. As a result, we’ve let a lot of people down, and we are sorry for it.”
But Dimon also stressed to the Senate Banking Committee, all the losses were the bank’s own money. And he says it is likely that some top executives will have to give them back some of their pay — what’s known as “clawbacks”.
On Capitol Hill, Rich Johnson, FOX News Radio.