Senator DeMint's Statement at Yesterday's Banking Hearing Bankingyer day's

[usmcstinger]

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. It’s 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.

 

[Truthmatters]

do you know what caused the crash?

 

[Polk]

I do love how the OP transitions from talking about JP Morgan's massive loss, to say they should tell us how to write effective banking regulation.

 

[dilloduck]

I do love how the OP transitions from talking about JP Morgan's massive loss, to say they should tell us how to write effective banking regulation.

The Committee of Idiots were the ones who did the transition because they have no clue what they are talking about and don't wanna piss off campaign donors.

 

[TruthSeeker56]

Politicians, as a whole, make me PUKE. The vast majority of them, REGARDLESS of which political party they have sold their souls to, don't give a SHIT about the average working-class American.

Politicians, REGARDLESS of which political party they bend over for, care only about POWER, and they are more than happy to ABUSE that power whenever they deem it necessary "for the good of (fill in the blank)".