ironically, from the chase department in charge of mitigated risk. my colleague, christine romans watching this hearing from her post in new york. the department that s supposed to mitigate risks made these risky trades and now he is having to answer questions. it s obvious why congress wants to know why these stupid trades were made. yeah. he says, you know what? i m not going to defend it, because it violates common sense. it shouldn t have happened. what was, maybe should have been a legitimate, bona fide macroeconomic hedge, morphed into something else, he says, and he did not defend it. talk about, you say a grilling. a civil discussion. in part because he is so contrite here. the conversation just now turning into something more about what do you think about dodd-frank and the volcker rule and new regulations he has been vocal against. but as far as that trade, he says, no, you re right. it shouldn t have happen and we re sorry for that. in particular, let me tell you
course. opening statements are under way as we speak in central pennsylvania. let s get straight to susan candiotti on the ground at the courthouse in pennsylvania. now, you were just in court, susan. what did you see and hear just now? reporter: hala, the prosecutors just wrapped up their opening statements, and clearly the most powerful moment we have seen and heard so far involved them showing individual photographs of eight of the ten alleged victims in this case. single shots of each one of them. smiling as young boys who were, as the state alleges, as young as 8 years old when this alleged abuse occurred. all of them smiling. and in each case, jerry sandusky looked up at the photographs, and looked back down as the prosecutors introduced each one. and for the first time, we heard the first names of the victim it s, which we at cnn will not reveal because, as policy, we do not identify alleged victims of sexual abuse. now, the other key part of this is when prosecutors