After reportedly losing $7 billion on risky investments, JPMorgan Chase CEO Jamie Dimon travels to Capitol Hill to face the mighty Senate Banking Committee. (04:04)

Senate Rolls Over For Jamie Dimon Belly Rub

Thursday June 14, 2012

Category: Bailouts, Video

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

8 Responses to “Bank Yankers”

  1. louiswi says:

    Tea Party favorite Jim DeMint was rubbing a little lower than his belly—

    South Carolina Senator and Tea Party favorite Jim DeMint asked Dimon for advice on how to create effective regulations.

  2. Myheadhurts says:

    The subtitle on the 2nd segment on this, “A panel of senators sucks up to JPMorgan Chase CEO Jamie Dimon like they’re on the payroll” is spot on. I know DeMint et al are in the pocket of Wall Street, but they aren’t even trying to hide it anymore.

    My favorite line from Stewart’s “coverage” of the hearings came at the end of that same 2nd segment, “It must be nice to be a Republican Senator sometimes, because you get the fun of breaking sh*t, and the joy of complaining that the sh*t you just broke doesn’t work.” Amen.

  3. VennData says:

    Jim DeMint wants to go back to the Bush years… let the banks tell us how much leverage they should have. …The Cheney rules where BP writes the rules on regulations in the Gulf of Mexico…
    While the GOP Media Machine told you Obama is going to tax the heck out f bullets ahd take your guns… that Sarbox moved all the IPOs to Hong Kong (we still have Sarbox, and they don’t beat us in IPOs anymore) that Obama caused gas prices to go up ( but not down!) That Obama raised taxes when he LOWERED your payroll taxes. That Obama caused the deficit. That it,s GOOD for insurance comapnies to discriminate on pre-existing conditions like no where else in the world…
    Seeing a pattern here GOP voter?

  4. romerjt says:

    Again, the most rational, insightful and relevant commentary comes from a comedian . . it’s not fucken funny.

  5. gkm says:

    For the me, the most interesting aspect of the actual testimony was at the 55 minute mark where Reed asks whether this was a speculative bet. Dimon just throws up his hands and says ‘I’m not going to try to explain it’.

    Matt Taibbi has a piece going over different elements he found in the testimony, but I think he totally blew it not picking up on that.

    First, you see an actual look of consternation from Dimon. Next his comment that he won’t explain the thoughts behind his underling’s plan is said with a little too much exaggeration. Said like someone who is used to bullying his way yet is uncertain of istriking the right tone for the moment There was definitely something to be had there but then he’s let off the hook.

    The very fact that the CIO staff put in place something that is so counterintuitive to it’s purpose should have been the hallmark of an investigation into the “loss”.

    If you want to drill down into further details, another thing would have been to get the full explanation as provided to JPM management for why the VAR models were so different. You don’t just go from one VAR model to another without a thorough retrospective into why you’ve been so wrong for so long with the old model and thereby understand what in general drives the VAR delta to the new model.

    In the end, you’re never going to get a straight answer anyway so what’s the point of this testimony and questioning.

  6. Greg0658 says:

    ‘breaking sh*t, and the joy of ‘
    earning a rebate (whatever its called) on it – is F ‘ D Up

    it is 10X easier to break stuff than build it .. and that should NOT in any sence of the way be rewarded in any fashion

  7. victor says:

    I dont understand all the chutzpah about JPM’s loss: it’s been other’ gain. Perhaps the implication that had the loss been larger and had JPM then gone belly up, it could’ve been another LEH moment? Thus TBTF must go?

  8. victor says:

    Bill Daley, current WH Chief of Staff was head of the “office of corporate responsibility” at JPM and said on national TV that Jamie Dimon is a trusted personal friend. So much for the whining here that GOP and ONLY GOP is in the pocket of Big Banks.