From the JPMorgan chief executive officer who won’t say what’s in the hedging position that cost his shareholders $2.3 billion, but you know, is owning responsibility for the losses and wants you to rest assured that the position will be wound down by the end of the year, somehow, comes a rather soft RSVP to the congressional hearings being held in his honor.
The Senate Banking Committee invited Mr. Dimon for June 7, but JPMorgan has declined. The bank on Friday was still negotiating with staff for the banking committee and the House Financial Services Committee.
“Jamie will of course be available to testify next month,” a bank spokeswoman said. “We’re working with the House and Senate to determine a time frame that will work for both chambers in June and allow us to provide the most thorough testimony.”
It is unclear why JPMorgan balked at the June 7 invitation. It is possible Mr. Dimon has a scheduling conflict, or simply wants more time to prepare his testimony. The bank spokeswoman, Jennifer Zuccarelli, declined to elaborate.
[Eric Piermont/AFP/Getty Images]