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

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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...
Joined:
Dec. 29, 2009 10:59 am

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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
Combad57
Joined:
May. 29, 2012 12:50 pm

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
Joined:
Nov. 27, 2010 10:46 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
tayl44
Joined:
Jul. 31, 2007 4:01 pm

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