02/25/2014
https://www.congress.gov...
"OK. Now, shouldn't the model--and I will ask maybe Mr. Sullivan this question--that produces a 44-percent drop in VaR overnight raise a red flag, cause the OCC to investigate how that is possible?"
"the bank needs to provide true, accurate, independent marks every day."
"We recommend that regulators finally issue the long-delayed final rule implementing Merkley-levin provisions of Dodd-Frank, which are known as the Volcker Rule."
"We identified serious risk management weaknesses throughout the entire Firm, and they became particularly evident in the CIO office."