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Sen. Bob Corker (R-TN) told Dimon he is "obviously renowned, rightly so I think, as being one of the best CEOs in the country for financials institutions."
Corker added that the $2 billion loss was no big deal. "You missed this, it's a blip on the radar screen," he said.
"We can hardly sit in judgment of you for losing $2 billion," Sen. Jim DeMint (R-SC) offered. "We lose twice that everyday here in Washington."
But the Republicans went beyond simple praise. In fact, they virtually begged Dimon to get involved in drafting future banking regulationas if Wall Street doesn't have enough clout in Washington already.
Republicans fawn over mega-bank CEO Jamie Dimon, ask him to help write banking regulations
The long shot big hope for Wall Street reformers Wednesday was that JP Morgan 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.
Senators fawn over Jamie Dimon despite JP Morgan trading fiasco
I thought it was terrible when a Republican apologized to BP for Obama "shaking them down for 20 billion" to clean up the mess BP made and then doing everything they could to block any investigation while saying it was Obama's fault.
Remember, Dimon"s corporation received hundreds of billions of dollars. Too big to fail. Republicans want him to "help" write regulations so bringing down the economy will be even easier in the future.
Now before you right wingers write anything, you better know what you are talking about.
Corker added that the $2 billion loss was no big deal. "You missed this, it's a blip on the radar screen," he said.
"We can hardly sit in judgment of you for losing $2 billion," Sen. Jim DeMint (R-SC) offered. "We lose twice that everyday here in Washington."
But the Republicans went beyond simple praise. In fact, they virtually begged Dimon to get involved in drafting future banking regulationas if Wall Street doesn't have enough clout in Washington already.
Republicans fawn over mega-bank CEO Jamie Dimon, ask him to help write banking regulations
The long shot big hope for Wall Street reformers Wednesday was that JP Morgan 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.
Senators fawn over Jamie Dimon despite JP Morgan trading fiasco
I thought it was terrible when a Republican apologized to BP for Obama "shaking them down for 20 billion" to clean up the mess BP made and then doing everything they could to block any investigation while saying it was Obama's fault.
Remember, Dimon"s corporation received hundreds of billions of dollars. Too big to fail. Republicans want him to "help" write regulations so bringing down the economy will be even easier in the future.
Now before you right wingers write anything, you better know what you are talking about.
