The bank’s chief investment officer announced she will step down – and sources close to the bank said that at least two more heads will roll after the bank’s serious financial blunder. And now the top dog at JP Morgan Chase – CEO Jamie Dimon – may not escape this fiasco unscathed.
Massachusetts Senate candidate – and consumer watchdog, Elizabeth Warren, is calling on Dimon to resign as director of the Federal Reserve Bank of New York. In a statement to supporters, Warren wrote, “Dimon should resign from his post at the New York Fed to send a signal to the American people that Wall Street bankers get it and to show that they understand the need for responsibility and accountability.”
What happened at JP Morgan Chase should be a wake-up call that not nearly enough has been done following the 2008 crash rein in the banksters who won’t think twice about crashing our economy again just to boost their quarterly earnings.