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STORY: JPMorgan Chase & Co Chief Executive Jamie Dimon's highly anticipated appearance before lawmakers on Wednesday got off to a rocky start with multiple protesters disrupting the event.
Dimon was called to testify before the Senate Banking Committee to answer why a seemingly low-risk unit of the nation's largest bank by assets has amassed at least $2 billion in trading losses.
In prepared testimony, Dimon said the loss occurred because poorly managed traders embarked in January on a misguided hedging strategy they did not fully understand.
Dimon also said that the trading loss is an isolated incident and that the bank is in solid shape.
