We’ll do whatever you want (July 4th 2012) We’ll do whatever you want (July 4th 2012)

James “Jamie” Dimon the 56 year old American chairman, president and chief executive officer of JPMorgan Chase, one of the Big Four banks of the United States has appeared before the US Senate Banking Committee to explain his firms risky transactions with depositor funds recently losing billions of dollars. Brian Beutler for Talking Points Memo states “The long-shot big hope for Wall Street reformers was … Jamie Dimon would trip up before the Senate Banking Committee and expose the need for tighter rules governing big banks. …Instead, with some notable exceptions, the senators themselves turned the cross-examination into a coronation, and exposed the extent to which elected officials still feel compelled to genuflect to powerful financial interests. “You’re obviously renowned, rightfully so I think, as being one of the most, you know, one of the best CEOs in the country for financial institutions,” crooned Sen. Bob Corker (R-TN). “You missed this, it’s a blip on the radar screen.” Most of the fawning came from GOP senators who in addition to relying on Wall Street largesse remain engaged in a political campaign against President Obama’s 2010 financial reform law. But some Democrats also treated Dimon if not quite like royalty then perhaps as a trusted confidant. … For reformers, that adds up to an opportunity missed.”


Inspired by Brian Beutler ow.ly/bWaPV image source Facebook ow.ly/bWaPt