02/04/2009
https://www.congress.gov...
"all of those decisions are made on a very long-term basis."
"Now, in May 2012, after the media disclosure of the whale trades, the bank determined the new VaR model was not portraying the SCP's risk accurately."
"Now, why should it be allowed on a one-time basis?"
"Which is a little different from what you said, which is that they 'get the information on those positions on a regular and recurring basis.'"