Dimon says losses indefensible, still reform sceptic

Jamie Dimon answers a question at the U.S. Senate Banking, Housing and Urban Affairs Committee hearing in WashingtonWASHINGTON (Reuters) – JPMorgan Chase & Co Chief Executive Jamie Dimon used his much anticipated appearance before lawmakers to apologize for the bank's multibillion-dollar trading loss but he also made clear he will still criticize how Washington tries to curb Wall Street. The Senate Banking Committee scheduled the hearing to grill Dimon on how a hedging strategy in a seemingly low-risk London office morphed into a complex bet that has produced at least $ 2 billion (1.28 billion pounds) in losses. …



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