A U.S. Senate committee has launched a probe into JPMorgan Chase's "London Whale" trading losses, according to a source familiar with the investigation. The Permanent Subcommittee on Investigations, chaired by Senator Carl Levin, is interviewing current and former employees of JPMorgan's Chief Investment Office in connection with the bank's $5.8 billion loss on trades in an obscure corner of the credit market, according to the source. A spokeswoman for the committee declined to comment. JPMorgan's losses stemmed from bets by London-based CIO trader Bruno Iksil on an index for credit default swaps. His outsized positions earned him the nickname "London Whale" from the hedge fund traders taking the other sides of his positions. An internal investigation by the bank revealed the possibility that the trades may have been deliberately mismarked in JPMorgan's books to make the losses look smaller. On Thursday, JPMorgan named Craig Delany as the new head of the chief investment
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