the treasury department, the federal reserve, the fdic and the consumer financial protection bur roecheau, the he is 2:15. this hearing is part of the committee's continued oversight of the implementation of the wall street reform act and it is also an opportunity to discuss whether bank regulators, the implications of the massive trading loss recently announced by jp morgan chase, one of our nation's largest banks. with a bank of jp morgan's solid reputation announces that it has lost millions of dollars and a large trade, designed to reduce the firm's risk it reminds us that no financial institution is immune from bad judgment. while the j.p., morgan trading laws does not appear to have caused systemic problems it is a clear reminder that wall street continues to need better risk management, vigorous oversight. if the rules are broken a yield in enforcement. to repeal or weaken wall street reform and define would take us back to the days before the financial crisis of 2008. wall street reform was a response to the crisis caused by a lack of consumer protection, reckless behavior in the