The CEO of JP Morgan testified before the Senate Banking Committee regarding a 2 Billion Loss. Senator Jim DeMint made the most sense when he said: "We can hardly sit in judgement of your losing $2 billion, the junior senator from South Carolina explained. We lose twice that every day here in Washington and plan to continue to do that every day. Its comforting to know that even with a $2 billion loss in a trade last year, your company still, I think, had a $19 billion profit. During that same period, we lost over a trillion dollars. Tea party senator wants JPMorgan CEO to 'guide' Congress on banking regulation - Soph0571's column on Newsvine It is very apparent that very few House Members and Senators have a working knowledge on the Subjects of the committees they sit on. The questions they ask and the statements they make can be pathetic and also laughable. Both parties are concerned about getting on a powerful committees rather than one that they may understand. I have dealt with Veteran's issues on the County, State and Federal level and have found that the higher the level the less they understand.