Winners:
Sen. Jon Tester (D-Mont.) visibly rattles Dimon’s confidence by asking why his bank held back $168 million of MF Global’s cash as it melted down. The stumble sends JPMorgan shares diving for an hour.
Sen. Jeff Merkley (D-Ore.) makes Dimon lose his cool by saying “big dumb banks” in jams should fail. He then cuts off Dimon’s protest, saying, “Sir, this is not your hearing.”
Losers:
Ousted investment chief Ina Drew gets blamed by Dimon for causing the bank’s $2 billion loss and is warned that some of her $14 million pay might be clawed back for her errors.
Ron Sachs - CNP
Jon Tester
Sen. Robert Menendez (D-NJ) rips into Dimon for taking $20 billion bailout money in 2008 but it backfires as Dimon shoots back he was forced by Uncle Sam to take it, or else.
Quotes:
“You appear to be in much better fiscal shape than we are as a country.”
— Sen. Jim DeMint (R-SC) to Dimon
“We do believe this to be an isolated event.”
— Dimon to senators
“Jamie Dimon’s a crook.”
—Demonstrators chant in chambers before being booted
Jamie Dimon, Jon Tester, Jeff Merkley, Robert Menendez
No comments:
Post a Comment