JPMorgan CEO Jamie Dimon testifies before the Senate Banking Committee
JPMorgan's chief executive appears before the Senate Banking Committee concerning the bank's recent $2 billion trading loss.
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Dimon says JPMorgan failed to rein in traders www.reuters.com -
Re: Dimon hearing excitement, remember this is the Senate Banking Committee. Lower your expectationsby counterparties via twitter 6/13/2012 1:59:05 PM -
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Protesters shouting "Stop foreclosures now" as Dimon hearing kicks off. They're being escorted outby counterparties via twitter 6/13/2012 2:04:00 PM
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RT @morningmoneyben: That is one stunningly beautiful tie Jamie Dimon is wearing.by counterparties via twitter 6/13/2012 2:08:06 PM
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RT @carney: A bit of background about Johnson's ties to JP Morgan. He's received thousands of dollars from JP Morgan's political action committeeby Anthony De Rosa via twitter edited by anthony.derosa 6/13/2012 2:08:21 PM -
Senator Johnson misses the point a bit when he implies that hedges shouldn't make or loss money but only "reduce risk".by BenDWalsh via twitter 6/13/2012 2:09:10 PM -
Tim Johnson sounds like Hank from King of the Hillby Anthony De Rosa via twitter edited by anthony.derosa 6/13/2012 2:10:32 PM
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Worth wondering how different today's hearings would be if JP Morgan's CEO and Chairman weren't the same person.by BenDWalsh via twitter 6/13/2012 2:11:51 PM
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Richard Shelby boldly declares "banks take risks. That's what they do."by counterparties via twitter 6/13/2012 2:11:59 PM
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...And now Jamie Dimon will read his publicly available prepared testimony out loud.by counterparties via twitter 6/13/2012 2:18:41 PM
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Jamie Dimon: CIO's office's job is to manage a $350 billion portfolio in a "conservative manner"by counterparties via twitter 6/13/2012 2:20:34 PM
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Or the Queen of Mean, Lisa Lampanelli RT @mccarthyryanj: I'm kind of bummed that Jeffrey Ross isn't present for the Dimon Roastby Anthony De Rosa via twitter 6/13/2012 2:22:54 PM
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RT @ObsoleteDogma: Has Jamie Dimon admitted he ordered the code red yet?by Anthony De Rosa via twitter 6/13/2012 2:23:11 PM
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"Fortress balance sheet" mention number one. #drinkby BenDWalsh via twitter 6/13/2012 2:23:33 PM
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RT @grossdm: did i miss the part where dimon talks about how much FDIC-guaranteed-debt JPM issued in '09?by counterparties via twitter 6/13/2012 2:25:17 PM
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Dimon: "I was dead wrong" to call the CIO losses a "tempest in a teapot"by counterparties via twitter 6/13/2012 2:26:44 PM
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RT @mccarthyryanj: So why isn't Ina Drew present at this hearing again?by counterparties via twitter 6/13/2012 2:27:38 PM
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Dimon says he made the "tempest in teapot" comment after he "had been on the road". That's the CEO version of "my dog ate my homework".by BenDWalsh via twitter 6/13/2012 2:27:39 PM
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Dimon just gave the most brilliantly incomprehensible answer about JPmorgan's VAR model changes.by counterparties via twitter 6/13/2012 2:30:06 PM
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Dimon, on clawbacks: "No one in CIO was paid on a formula" - "It's likely there will be clawbacks"by counterparties via twitter 6/13/2012 2:32:34 PM
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Dimon: likely there will be compensation clawbacks.by BenDWalsh via twitter 6/13/2012 2:32:43 PM
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Dimon: "I would call this hedging" but if credit went bad, we'd make a ton of moneyby counterparties via twitter 6/13/2012 2:34:46 PM
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Shelby to Dimon: "Would you feel better in a closed hearing"? (can I get you a soda? are you comfortable?)by counterparties via twitter 6/13/2012 2:35:47 PM
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RT @ReformedBroker: Shelby to Dimon: Hey, you wanna get out of here, go somewhere we can talk?by Anthony De Rosa via twitter 6/13/2012 2:37:01 PM
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Please tell me Bernie Sanders is on this committee.by Anthony De Rosa via twitter edited by anthony.derosa 6/13/2012 2:38:44 PM
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Senator Shelby raised the soft-ball question to art form there.by BenDWalsh via twitter 6/13/2012 2:39:08 PM
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If the risk committee only catches what management catches, what exactly is the point?by BenDWalsh via twitter 6/13/2012 2:41:09 PM
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Chuck Schumer just asked Jamie Dimon how we can regulate banks better. And nonbanks. #Wegiveupby counterparties via twitter 6/13/2012 2:41:59 PM
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Top political contributors to Sen. Charles Schumer: Goldman Sachs, Citigroup Inc, Morgan Stanley, JPMorgan Chase & Co (according to OpenSecrets.org)
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Jamie: plan for the big trade was to "earn a lot of revenue if there was a [global credit] crisis. I consider that a hedge." #JPMby moorehn via twitter 6/13/2012 2:43:55 PM -
Jamie Dimon on Senate hot seat: Can money buy him love?
By Kathy Kiely
When JPMorgan chief executive Jamie Dimon delivers his not-so-abject apology for his bank's $2 billion-plus blooper on Wednesday morning, he'll be facing some interrogators who are also his beneficiaries.
Since 1998, according to Sunlight's Influence Explorer, Dimon and members of his immediate family -- wife Judith, father Theodore and mother Themis -- have given more than $400,000 to politicians and political organizations, including to members of the Senate Banking Committee that has summoned Dimon to testify. Dimon gave $2,000 to committee chairman Tim Johnson, D-S.D., during his last reelection campaign and the same amount to Sen. Mike Crapo, R-Idaho, the panel's second-ranking Republican. Two years ago, Sen. Mark Kirk, R-Ill., got a $2,000 donation from Dimon when the then-congressman ran successfully for the seat once occupied by President Barack Obama.
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Hey Jamie, how would you like to be policed? - Sen. Mike Crapoby Anthony De Rosa via twitter edited by anthony.derosa 6/13/2012 2:45:05 PM
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Sen. Mike Crapo: "What should the function of regulators be?" #UGHby counterparties via twitter 6/13/2012 2:45:20 PM
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You're electing people who ask questions like: how should we make it as easy as possible to cheat people out of their money?by Anthony De Rosa via twitter 6/13/2012 2:46:39 PM
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Jamie Dimon: "We try to be a very conservative company."by MurreyJacobson via twitter 6/13/2012 2:48:37 PM -
Top political contributors to Sen. Jack Reed: Picerne Investment, Goldman Sachs, JPMorgan Chase & Co (according to OpenSecrets.org)
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RT @agnestcrane: Dimon says he doens't know if the OCC knew about the VAR change. Hmm. Shouldn't he have prepared for that question?by counterparties via twitter 6/13/2012 2:54:21 PM
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Death toll rises to 28 in Indonesia mine accident
JAKARTA - The death toll from a tunnel collapse at the world's second largest copper mine run by Freeport McMoRan Copper & Gold Inc's Indonesian unit was raised to 28 on Wednesday as rescuers gave up hope of finding any more survivors.
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