Braunstein Recites ‘I Don’t Recall’ When Questioned About Dimon

[marmar]

(Bloomberg) JPMorgan Chase & Co. (JPM)’s Douglas Braunstein repeatedly said he couldn’t remember specifics as U.S. senators grilled him about Chief Executive Officer Jamie Dimon’s role in withholding data from regulators.

Lawmakers pressed Braunstein, the bank’s former finance chief, today on statements he made to investors about trading losses and on Dimon’s decisions as the firm held back details about the investment bank from regulators. Carl Levin, the head of the Permanent Subcommittee on Investigations, asked about Dimon’s reaction when the division resumed the daily profit and loss reports to the Office of the Comptroller of the Currency. An examiner at the OCC had said Dimon halted them because the CEO “believed it was too much information.”

“I don’t recall the specifics of his reaction,” answered Braunstein, in one of at least three exchanges in which he said he couldn’t remember details. A Senate report released yesterday said Dimon “reportedly raised his voice in anger” when told the profit and loss reports had resumed.

Lawmakers expressed exasperation throughout the hearing as current and former JPMorgan executives deflected assertions that the bank, Dimon and other executives misled investors and dodged regulators while losses mounted on the so-called London Whale bets. The senators released a 301-page report yesterday examining the trading debacle, which cost the New York-based firm $6.2 billion in last year’s first nine months. ..................(more)

The complete piece is at: http://www.bloomberg.com/news/2013-03-15/braunstein-repeats-i-don-t-recall-at-senate-grilling-on-dimon.html

[Teamster Jeff]

1. Maybe somebody put a horse head in his bed the night before n/t

[marmar]

2. LOL....Probably.

nt