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-- diamond coming next Tuesday but this time it's with the house financial services committee -- won't be appearing alone.
The committee is also calling on regulators to testify about the -- whale losses trying Gasparino has the -- details on the hearing happens to be different.
From the just make one point about group yes this is this is it really be case -- the -- Rogers group.
Project -- was probably the most prominent Indian American businessman may be in the world this guy was you know had a McKinsey.
-- -- board member on many boards and I will tell you this and I talked to I've been talking about doing a book about -- trading took a senior law enforcement officials.
Particularly in the Justice Department they were up on the fence a bit about bringing case that it charges -- -- eight well they did not.
They had to do what they believe they believe he crossed the line clearly it's -- given Raj dis incentives but.
They felt that he was kind of duped into they didn't think he was a big I think they thought he was more trying to be friendly with with -- with broad -- Rodham and.
You know it was the sort of culpability factor that -- think was as high is right Rodham.
But still you know they had berg a lot lot lower volatility we will talk about this little bit later but let's get -- -- -- -- It is interest in that and -- and this and this is that the final chapters is Gary net houses is -- -- -- the next week's hearings -- always hesitant to predict.
You know politicians doing the right thing are being.
-- half on witnesses I can tell you this that you know that -- people -- house financial services committee obviously watched last week's hearings.
By the senate banking committee into the London will trade laws and the testimony Jamie Dimon.
They thought it was -- -- softball pitching.
I thought that was incredibly -- skeptical questioning.
And they thought it was kind of a lot fast.
OK I can tell not not Berkeley everywhere we went right after it and mean but they've been by and large Bob Barker right by Mark Russell up at Parker with -- -- and also more of by and large it was kind of.
It was Jamie giving you know a finance -- serving class it was actually funny to watch that was in there.
And aside from look Menendez and senator Menendez -- -- a little bit.
And the other guy you know -- trying to smack him and -- pretty much smack down it was you know can he tells how to make the world better place -- appears.
We suspect that it was actually value that got any case I don't tell it to the other guy I was proud of because I thought I think this is a tempest of the -- as he initially set I think it was -- a lot to lose money but that being said.
I could tell you that when I'm talking -- congressional sources close to the house financial serves committee.
They promise a much tougher grilling a dime they promise much more skeptical questions and they promise is not so much on you know white taking this risk.
But a lot of it will be about the notion of where with the regulators in all this they're gonna look at the fact and you'll diving -- something.
You what what -- what is most fascinating commentary -- does that.
I -- I I was blogging tweeting live tweeting blogging this thing and I think at one point that I needed like Red -- because about the falsely.
One of them the -- I did perk up what he said there were there off hundreds of regulators can't doubt in his office yet.
That does that -- really that it is it's huge I mean there's -- that and you know.
-- five regulatory bodies are I think.
ES EC the OCC the Fed.
And probably missing and I'm pretty sure -- like five and you know you have you don't have one guy from each you have one guy or one -- and you know when he -- -- so you could see.
How it adds up to -- hundred.
And to camp out -- offices and with this here is gonna focus on how did.
100 people miss this when you were taking this risk some -- it's its outsize risk.
In that in the London office you worry you view conceded that -- had two different risk -- -- one for the London office one for every place else in the bank.
How did -- -- this and I think they're gonna they're gonna be like reeling Jamie on.
At least this is what I'm getting when history as a rough as a rough sort of you know in the early sort of edition will know what next week -- exactly what it has but the early edition is they're -- -- be -- him.
On what he did with regulating what they were doing.
Who was he meeting with give us some names and and -- obviously gonna provide -- whoever else and that's why everybody it was it was a -- was it was and publicly announce and you're right by right why didn't see it trading yeah -- Why did why did regulators learn about this from the newspapers I think that will be the key question and it was -- -- I I hope they go there because this is the important thing that was missing from the list dual -- it was just in house just just.
And every now and then she be saying something -- and we really -- current am I the only thing I learned from that -- Was -- two things I learned that.
But I think this was already reported the trade was two years old right really that was reported.
And how the other thing I learned is that they had to risk parameters but.
Was probably the clock back with him that was new and then -- the -- -- regulators.
-- OK and I think that's what you're gonna see next week at least that's early and we we look forward to your report but it it may change Monday.
Thank you so much it's okay to presidents and Mitt Romney already spinning a possible failure in -- to their favor.
We'll sort this went out we think the police dogs a little later in the hour and up next.
China having a big impact on commodities you could be paying the cost British check -- with bill Plante at the CME the first.
A look at battles as we head out to break.
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