Salient to Investors:

Senator John McCain said JPMorgan’s chief investment office increased risk by mislabeling the synthetic portfolio as a risk-reducing hedge when it was really involved in proprietary trading.

Subcommittee Chairman Carl Levin said they found a trading operation that piled on risk, ignored limits on risk taking, hid losses, dodged oversight and misinformed the public.

Read the full article at

Click here to receive immediate email alerts of the latest forecasts.