I don’t think it was too much of a surprise that today’s hearing with Jamie Dimon was something less than stringent. Very few Senators bothered to show up with anything more than a list of questions and a pallid expression. The very structure of the hearing, with one round of five minutes of questioning, wasn’t conducive to being very meaningful. But there were still a few interesting moments.
|By: David Dayen Wednesday June 13, 2012 1:00 pm|
|By: David Dayen Wednesday June 13, 2012 6:45 am|
JP Morgan Chase CEO Jamie Dimon faces the Senate Banking Committee in a two-hour hearing scheduled for 10am ET today. He’ll be the only witness. Keep in mind that Dimon’s JPMorgan Chase has given millions to top-ranking members of the Banking Committee, so anything more than headline-grabbing and grandstanding without a real challenge to Dimon in the wake of the Fail Whale trades would be a bit of a surprise. I discuss his released testimony here and will be covering the hearing.
|By: David Dayen Friday May 18, 2012 7:30 am|
Volcker rule co-authors Jeff Merkley and Carl Levin think that the JPMorgan Chase “Fail Whale” trade offers an opportunity to get the regulatory apparatus back on point with their vision of the rule, one that they say should be stronger in barring the types of risky trading from occurring at commercial banks.