1. Hot Seat

    Dimon Will Testify Before Congress

    NEW YORK, NY - MAY 07:  Chairman and CEO, JPMorgan Chase & Co, James "Jamie" Dimon speaks during An Evening With the Fortune 500 at the New York Stock Exchange on May 7, 2012 in New York City.  (Photo by Jemal Countess/Getty Images for Time)

    Jemal Countess / Getty Images for Time

    It’s been a rough few days for JPMorgan Chase CEO Jamie Dimon. First came news that his company suffered a $2 billion trading loss. Then came reports that the loss might be closer to $3 billion. Now, Dimon is going to have to go before the Senate Banking Committee to explain what happened. The invitation comes as the committee finishes its efforts to implement Wall Street reform. Critics of the big banks say this is the perfect opportunity to do something about institutions that are “too big to fail” and argue JPMorgan Chase should be broken up.

    Read it at Reuters