But it was a violation of the bank's policy.
So there intention--was not an intention, you said, on an ongoing basis to optimize the book.
Let me be clear: JPMorgan completely disregarded risk limits and stonewalled Federal regulators.
Were you aware that it was 1,000 percent over the limit?
And not tweaked.
And do you think that this kind of practice is allowed by the GAAP?
I think today they acknowledged it was not a hedge.
A large jump in risk limit breaches is a worrisome pattern.
it was Mr. Dimon who was responsible for directing the data cutoff.
I am not talking about what is on the tapes. I am talking about the shift in the way these marks are made.
That was the purpose?
Well, I want you to look at Exhibit 1g.
So what you said is not exactly accurate on that day. Is that correct?
We have gone into the concerns which we have had about the whale trades all day long.
I hope that message was communicated loud and clear today.
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