In a letter to Senate Banking Committee Chairman Tim Johnson (D-SD), Senator Bob Corker (R-TN), a key member of the Committee, has called for immediate investigation into the details of the JPMorgan Chase & Co. trading losses. Senator Corker wants the committee to examine if the trades in question were bona fide hedging transactions or poorly managed proprietary trades, and wants to explore whether US taxpayers are fully protected from losses at major financial institutions. In addition, Senators Levin (D-MI) and Merkley (D-OR), authors of the Dodd-Frank Act's Volker Rule, have issued statements urging rapid adoption of Volker Rule regulations prohibiting hedge fund investments by large financial institutions being disguised as risk mitigation or market making.