Ed's Blog

What Will JP Morgan Chase Chief Jamie Dimon Testify To Today?

By Ed Mierzwinski
Consumer Program Director

UPDATE: JP Morgan Chase chief Jamie Dimon got softballs from some Senators but others played hardball, which is all Dimon ever does, so why not. The U.S Senate is in the big leagues after all. Oregon Senator Jeff Merkley got Dimon's hackles way up (Observer) with questions on the Volcker rule and on whether government bailouts accepted by JP Morgan saved the bank (Dimon claimed he didn't need 'em and was forced to take 'em). Senators Jack Reed (RI) and Sherrod Brown (OH) (CNNMoney) and Robert Menendez (NJ) (Forbes) also got some good information into the record. Good Reuters summary. WSJ live blog has a minute-by-minute update. I was there (see my cameraphone Dimon testifiesshot) and it tracks.

ORIGINAL POST: At 10am, the U.S. Senate Banking Committee will ask JP Morgan Chase chief Jamie Dimon questions perhaps including "What did you know and when did you know it?" and "Did your $3 billion in gambling losses violate the Volcker rule against betting your own (and the depositors') money?" We will be there, tweeting from @edmpirg. If that link doesn't have video, try C-Span.

In a release, Wall Street reform ally Dennis Kelleher of Better Markets states emphatically: “If [Jamie] Dimon testifies truthfully and accurately it is inconceivable that he will not agree that the bank violated the letter and the spirit of the Volcker Rule as it is currently written.”"

Meanwhile Dimon's pre-filed testimony (USA Today) says the whole trading debacle was just a (legal) hedge to reduce risk that backfired, not a violation of the Volcker rule against risky gambling. Oh, and the losses were de minimis.

Dimon has been among the fiercest opponents of strong rules to rein in the Wall Street banks, after their disasterous and risky practices collapsed the U.S. and much of the world's economies in 2008. Dimon's still living large, but most Americans and their towns and communities are still being pummeled by the lingering risk-caused recession.

Comments

Check the http://www.55kipcenter.org/news2.html cipher to verify authenticity. The LV cipher is about balanced from ancillary to side. So attending at the bag all-embracing to see if the cipher is symmetrically placed in affiliation to the handles and sides. Check every attachment for a covering tassel. The tassels should be fabricated of the aforementioned adaptable covering as the purse itself. If the tassels attending agleam or plastic-like, it is acceptable a replica purse. Look for a name bowl on the alfresco of the purse. If it has one, it is not authentic. Balenciaga puts their tags on the http://www.rcd.co.uk/news/newscome.html central of their purses, either in metal or leather. They will account either the appearance or consecutive amount on the tag. Check the added tassels that arise with the purse. If they are formed in a circle, it is not a absolute purse. Balenciaga consistently sends added tassels in a clear, collapsed artificial wrapping. It may be bankrupt in on itself but the tassels central will never be rolled. Scrutinize the purse photos anxiously and analyze them to http://www.sportingchanceclinic.com/read.html accurate photos from the Balenciaga website. If the agent does not account photos of the absolute purse for sale, beware. If he abandoned lists banal photos, ask to see photos of the absolute purse. Look at the accouterments on the purse. Balenciaga accouterments is either assumption or a addled silver. If the accouterments on the purse is shiny, it is not authentic. Examine the leather. If aggravating to actuate the actuality of a covering handbag, analysis for inconsistencies in the color, like ablaze patches on the apparent of the bag. Aswell agenda the bendability of the leather. If the bag feels stiff, it's acceptable an impostor, according to the http://www.pinkforagirl.com/helps.htm Seattle Post-Intelligencer. Observe the Prada logo. It should arise on a metal tag on the alfresco and the central of the bag. You should aswell see the chat "Prada" stitched again forth the inside. Use accepted sense. If you acquisition the backpack at a flea bazaar for $99, you can bet that it's a fake. If you acquisition it for bargain by a acclaimed banker in a high-end appearance commune like Rodeo Drive in Beverly Hills, you can buy with confidence. If searching at handbags online, analysis the seller. Do a quick Google seek for the aggregation affairs the account and attending for ratings from added buyers. If application an online bargain or retail website like eBay, bang on the seller's user appraisement and apprehend specific reviews. Examine the accouterments for any signs of discoloration, blight or fading. Attending anxiously at the http://www.larsri.org/help.aspx zippers, clasps and chains and agenda the superior of the brass. Prada uses abandoned aged brass, so ailing complete accouterments is a asleep betrayal for affected merchandise.

I simply want to tell you that I am new to weblog and definitely liked this blog site. Very likely I’m going to bookmark your blog . You absolutely have wonderful stories. Cheers for sharing with us your blog. www.bulksmsbase.com

Priority Action

The overuse of antibiotics on factory farms is threatening the effectiveness of lifesaving antibiotics. Call on the Obama administration to put an end to the worst practices.

Support Us

Your donation supports U.S. PIRG’s work to stand up for consumers on the issues that matter, especially when powerful interests are blocking progress.

Consumer Alerts

Join our network and stay up to date on our campaigns, get important consumer updates and take action on critical issues.