1. TPM—Senators Fawn Over JPMorgan CEO After Massive Trading Debacle: "The long-shot big hope for Wall Street reformers Wednesday was that JPMorgan CEO Jamie Dimon would trip up before the Senate Banking Committee and expose the need for tighter rules governing big banks. His firm, after all, recently lost billions making risky bets with depositor funds on the line. 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.
JPMorgan's chief executive Jamie Dimon is appearing before the Senate Banking Committee in Washington, D.C. this morning to testify about the $2 billion trading loss the bank revealed last month. On May 10th, JPMorgan disclosed a mu... Read Post
Jamie Dimon, the head of JPMorgan Chase, was called before the Senate Banking Committee on Wednesday to answer questions about a $2 billion trading loss suffered by his bank — the very type of reckless risk-taking that caused the 20... Read Post