OK. So that in 2012, the Synthetic Credit Portfolio was being actively traded, right?
Were you aware of the fact that it had not been reviewed every year?
I think this is separate from the reserve. I think the losses as reported here on this chart were $719 million.
How do you possibly justify changing your process of making marks in order to make your losses go away or be less?
So when he said in his email that you said that the current losses are 1.6, what you are saying is you told him that the...
It seems to our review that, absolutely, the----
That is not when these trades were made? That is the issue.
Jamie Dimon testified to the Senate that the SCP was to protect against a financial crisis
In fact, it was increasing in size.
Do not put it in emails.
The Whale Trade issue is considered closed--email went out to Senior Management yesterday.
We had some concerns about overall governance and transparency of the activities.
But were they caught at the OCC?
Is it common inside JPMorgan to change your pricing practices when the losses start piling up in order to minimize the l...
shifting the pricing practices to minimize losses is not acceptable.
Is that correct?
Well, the math may work out for you, but the question is whether or not that is what you said, and we will find out more...
Thank you very much.
