JPMorgan Chase is "likely" to try to recover compensation from executives responsible for a recent multibillion-dollar trading blowup, according to testimony from JPMorgan CEO Jamie Dimon yesterday before the Senate Banking Committee, the New York Times' DealBook blog reported yesterday. Dimon assured lawmakers that the bank's board was investigating the trading losses at the chief investment office. Once the investigation is complete, he said, the bank will decide whose paychecks to pursue. "When the board finishes the review, you can expect we'll take proper corrective action," Dimon said. "There's likely to be clawbacks."
Click below to read Dimon's prepared testimony before the Senate Banking Committee yesterday:
http://banking.senate.gov/public/index.cfm?FuseAction=Hearings.Hearing&…