"Renaissance Thinking About the Issues of Our Day"
Harry Truman famously said, "If you want a friend in Washington, buy a dog." It used to be true. Back in 1907, Republican President Teddy Roosevelt got the Tillman Act pushed through Congress, which made it a felony crime for a corporation to give money or any other form of assistance to any member of Congress. The Supreme Court, of course, in a series of decisions over the past 30 years culminating in Citizens United, has taken down the Tillman Act and all of its cousins, like McCain-Feingold. Now, here in Washington, if you want a friend, you don't have to buy a dog. You can buy yourself a senator. Case in point, Jamie Dimon, CEO of JP Morgan Chase. Yesterday, he was called to testify before the Senate Banking Committee. In the clip you're about to see, brilliantly compiled by TPM, you'll see and hear how one of our nations most notorious banksters was treated by some of his "friends." What happens if you're the CEO of a company that makes one of the biggest financial trading mistakes in history and you go to Capitol Hill to testify? You're given a huge pat on the back...I'll explain in tonight's Daily Take.