07/21/2014
https://www.congress.gov...
"Shouldn't investors have known during that call that the current status of the SCP was not great, it was losing a lot of money, huge positions that it had were hard to exit, it had been violating all ..."
"All right. So when Ms. Drew said you were, or she thought you were, she was wrong. You were not."
"But it is supposed to be at least once a year, isn't it?"
"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?"