WASHINGTON, May 17 (UPI) -- A U.S. Senate panel Thursday invited JPMorgan Chase chief Jamie Dimon to testify about the bank's more than $2 billion investment blunder.
The Senate Banking Committee this week announced it would have hearings into the trading losses, concentrating on regulation. U.S. Sen. Tim Johnson, D-S.D., announced the invitation to Dimon following two planned hearings with regulators next Tuesday and June 6, CNNMoney reported.
Dimon announced last week JPMorgan Chase had lost $2 billion in 15 days in a series of bets on credit default swaps in a bid to hedge risks. The company's chief investment officer retired Monday in the wake of the losses and the trader responsible for them was said to be readying his departure.
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TEL AVIV, Israel, May 17 (UPI) --Nobel Energy of Houston, which discovered Israel's big gas fields in the eastern Mediterranean, is pressing the government to decide soon on an energy export policy as the prospect of an undersea pipeline to Turkey gains credibility.