Local banks are again watching nervously from the sidelines as big banks are under the microscope in Washington. JP Morgan Chase lost several billion dollars in credit swaps and was called on the legislative carpet.Curt Everson, President of the South Dakota Bankers Association, says they hope Congress does not get carried away…
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Everson says the trading practices of JP Morgan Chase should have a closer look…
[audio:http://prprt.itmwpb.com/wp-content/uploads/sites/688/2012/06/Curt-Everson-620b.mp3|titles=Curt Everson 620b]JP Morgan Chase President Jamie Dimon appeared before the Senate Banking Committee, chaired by South Dakota Senator Tim Johnson, to explain the trading losses.