JP Morgan Chase CEO Jamie Dimon testified before the Senate Banking Committee

4 posts / 0 new

JP Morgan Chase CEO Jamie Dimon faced off with the Senate Banking Committee today – where he was grilled over his banks’ $3 billion in losses earlier this year. But Dimon didn’t get most of the heat from the Senators – many of whom have received generous campaign donation from Dimon’s bank – instead he got heat from average American who showed up at the hearing to speak their mind.

Even before the hearing started – protestors shouted down Dimon asking him to, “face the people [he’s] foreclosed on,” and to “stop the foreclosures now.” Tragically – we can’t rely on our bought-out Members of Congress to hold the banksters accountable anymore. Instead – “we the people” have to do it – and one of the best ways to do it is to move your money out of Wall Street banks like JP Morgan Chase and into local credit unions.

Thom Hartmann Administrator's picture
Thom Hartmann A...
Dec. 29, 2009 9:59 am


Dimon was well spinmeistered up for the hearing. Watch it this early evening on CSPAN. You'll notice a modicum of humility in that this thing got away from him. Underlying his demeanor, however, is his incredible sense of entitlement in being the CEO of JP Morgan. He also is well aware that he owns the room.

Facing him on the committee are guys who took millions (led by Schumer at $5.6 million) from Wall Street financial since 2008. These are guys who voted to scrap Glass Steagal 90-8 in the Senate in 1999. Wall Street financial is who is responsible for the median net worth of the middle class plummetting by 40% since 2007.

One thing Dimon is not is worried. It's ridiculous, but he'll probably hold onto his seat on the BOD of the NY Fed. It's just so obviously wrong, but that's the level of corruption we have to put up with today.

Combad57's picture
May. 29, 2012 11:50 am

Jamie Dimon doesn't' deserve "heat from .. (grandstanding) ... senators" He deserves to be made to pay for his crimes. Even though, CNN and the media in general think he is the darling bank executive that can do no wrong, Jamie's just another criminal bankster, and a sweet talking one who can smile sweetly as he picks your pocket, at that. The Goldman Sacks executives got quite a bit of heat thrown at them during a senate hearing a couple of years back. They did look a bit uncomfortable as they sat and took their licks, But the Goldman Sacks Executive Banksters left their hot seats and then went on to pocket record bonuses while they continued to crash and burn economies, both at home and abroad , So today, both local and sovereign nation treasuries that were tricked by them to gamble and loose on exotic derivative schemes are now told by the banksters to pay up and make their citizens suffer by pushing austerity measures on them. Bernie Madoff would probably welcome Jamie and the Goldman Sucks Executive Banksters as a room mates. They have lot in common.

Sacramento Dave's picture
Sacramento Dave
Nov. 27, 2010 9:46 am

We need to move our money to a "public bank".it will give the people much more money power and cut any control by the 1%.

tayl44's picture
Jul. 31, 2007 3:01 pm

Latest Headlines

One Iowa Caucus Delegate Comes Down To Coin Toss

The Iowa caucus convener flipped a coin. Bernie Sanders supporters called "heads" and it landed on tails.

Bernie Sanders leads Hillary Clinton by 31 points in N.H.: Poll

Sanders was at 61 percent support in the University of Massachusetts Lowell/7News poll, followed by Mrs. Clinton, at 30 percent

Martin O'Malley suspends presidential campaign after Iowa caucuses

The announcement came after O'Malley barely registered in Iowa against his better-known rivals Clinton and Sanders, failing to meet already low expectations

Comparing 2016 America to 1972 America Doesn't Work

Bernie Sanders' big win in New Hampshire has given his campaign a big boost, but even Bernie knows that there's still a long primary season ahead.

One of the biggest criticisms about Bernie Sanders, one that I hear frequently from pro-Clinton callers, is that Bernie Sanders could be the next George McGovern.

And it's a serious criticism that's being thrown at Bernie.

Powered by Drupal, an open source content management system