All right. So that this is wrong, this email is wrong. Is that correct?
Everyone knows what is going on and there is little need for more limits, controls, or reports.
And then you mean that you would see where the review led to, but your first reaction would be this is a troublesome idea and we better look...
Was it a coincidence that the way in which those marks were made changed to reduce the losses on the books at the time those losses were pil...
That was a misstatement, misrepresentation, and flat out falsity, as far as I am concerned.
the bank stopped sending the Investment Bank's daily profit and loss (P&L) data to the OCC.
All right. So when Ms. Drew said you were, or she thought you were, she was wrong. You were not.
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....
The operational problems--the spreadsheets, the lack of an automated database, the calculation and formula errors which lower these VaR resu...
So that was just a failure at the OCC.
Now, why should it be allowed on a one-time basis?