Senators Fawn Over JPMorgan CEO After Massive Trading Debacle
His exchanges with GOP senators were even more saccharine. Sen. Jim DeMint (R-SC) — a tea party hero
— gave Dimon a full pardon. “I really appreciate you voluntarily coming in to talk with us,” he said. “It is important that we talk about things happening in the industry. It helps us as we look forward and, hopefully, it will contribute to best practice scenarios in industry. I appreciate your emphasis on continuous quality improvement. We can hardly sit in judgment of your losing $2 billion. We lose twice that every day in Washington.”
Sen. Jerry Moran (R-KS) asked Dimon and his firm to be good corporate citizens, if only to avoid complicating conservative free market messaging. “How you managed JPMorgan is the business of your board of directors, your shareholders, but it does have consequences to those of us who believe in the free-market system, its value, its merit. I have the sense and I hope it’s the case that it is a responsibility you understand. behavior really matters in our ability to be an advocate for a free-market that creates jobs and economic opportunity and allows Americans to pursue the American dream.”
So concerned were the senators that increased regulations might burden Wall Street that in an exchange with Sen. Roger Wicker (R-MS), Dimon even offered to get neighborly with the people charged with policing his firm’s actions, to keep them well informed about financial regulatory issues.
“Me and lots of other folks, we’ll do whatever you want, we’ll even get apartments down here,” Dimon offered.