Washington, DC- Oregon’s Senator Jeff Merkley issued the following statement after Senator Carl Levin (D-MI), Chair of the Permanent Subcommittee on Investigations, announced he will send his findings on the JPMorgan Chase “London Whale” trading losses to the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC).
“I applaud Senator Levin for his work uncovering the astounding level of unacceptable behavior surrounding the ‘London Whale’ trades and sending his findings along to the DOJ and SEC. The DOJ and SEC should quickly review the evidence compiled by Senator Levin’s investigations subcommittee and proceed aggressively to bring justice in this matter. The history of slapping big financial institutions on the wrist only reinforces Wall Street’s excessive risk-taking, and ordinary Americans pay the price. No financial institution should be above the law.”