JP Morgan Chase CEO Jamie Dimon's kabuki theater was back on Capitol Hill Tuesday

JP Morgan Chase CEO Jamie Dimon starred in another dog and pony show on Capitol Hill Tuesday – this time appearing before the House Financial Services Committee. While receiving some tough questions from Democrats on the Committee who aren’t as dependent on Wall Street money, Dimon was once again given a free pass by Republicans who rely on Dimon for campaign cash.

At the top of that list is Financial Services Committee Chairman Republican Spencer Bachus – who calls JP Morgan Chase his second-highest campaign contributor of all time – receiving more than $100,000 from the bank. But Republicans in the House didn’t just do Wall Street a favor on Tuesday by taking it easy on their poster boy, Jamie Dimon.

They also voted to slash funding for critical Wall Street regulators at the Commodity Futures Trading Commission. Republicans cut funding for the CFTC by $25 million from last year – and by $120 million from President Obama’s request. The massive cuts come just as the CFTC is in need of funding to implement new Wall Street regulations as part of the Dodd-Frank Wall Street reform law passed in 2010. Unfortunately for the American people who want to see banksters held accountable for their crimes and our markets safe and regulated – Republicans, and a large wing of the Democratic Party, have sold out to Wall Street.

Comments

yolanda verdin's picture
yolanda verdin 11 years 51 weeks ago
#1

Hi, am modern day slave- caught in cycle of repaying back loans. Shame on Jamie Dimon and other bankers who are corrupt. He could do a turn-around and please give me back the money I was overcharged. We need it more than he. I am disabled and my family is all depending on my little check, I am drowning in debt and soon may be homeless.

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