This morning, Jamie Dimon, the CEO of JP Morgan Chase, faced a Senate hearing over more than $2 billion in bank losses caused by risky hedges that blew up. Dimon said that the hedges-investments meant to protect the bank-had grown into ‘complex and hard-to manage risks.
Saturday, June 16th, 2012
Charting the Cozy Connections between JP Morgan and the Senate Banking Committee
Author: CORA CURRIER
Source: ProPublica
Publication Date: June 13, 2012, 2:25 p.m
Link: Charting the Cozy Connections between JP Morgan and the Senate Banking Committee
Source: ProPublica
Publication Date: June 13, 2012, 2:25 p.m
Link: Charting the Cozy Connections between JP Morgan and the Senate Banking Committee
Stephan: We have reached a level of public corruption at the top of government that equals any Central or South American banana republic of the 1920s through 1970s. It is one of the several great lies we tell ourselves about ourselves that we have this vaunted democratic republic. The truth is we have government for the rich, by the rich. Of the 535 members of the Senate and the House, about 47 per cent -- 249 -- are millionaires.
