John Hogan, who only became chief risk officer in JP Morgan Chase (JPM) in January, will likely be facing some uncomfortable questions following the bank’s revelation yesterday it had made $2 billion in trading losses since the beginning of April. Irving Picard, the bankruptcy trustee who investigated the Bernie Madoff fraud, alleged that Hogan and another JP Morgan employee suspected that Madoff was operating a fraud a longtime before Madoff was arrested. More in the Wall Street Journal here.
