June 19, 2012
Rep. Spencer Bachus (R-AL)

JPMorgan Is Spencer Bachus’s 2nd-Highest Donor As He Fails To Put Jamie Dimon Under Oath

Today, JPMorgan Chase CEO Jamie Dimon is testifying before the House Financial Services Committee about his megabank’s stunning $2 billion loss. As during his testimony before the Senate last week, Dimon is being shown enormous deference by members of Congress, many of whom receive campaign contributions from Dimon’s bank. Take, for example the committee’s chairman, Spencer Bachus (R-AL). Bachus failed to put Dimon under oath during the hearing. While this isn’t an unusual practice for a congressional hearing, it is appropriate to require sworn testimony when a committee is pursuing factual questions and allegations of misconduct, as is the case …

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June 13, 2012

Senators Funded By Banks Suck Up To JP Morgan CEO Jamie Dimon During Hearing About $2 Billion Loss

Imagine if, when suspects were taken before a court to testify, they were able to pay off the judge and jury to make sure there was no serious grilling. Unfortunately, this isn’t a hypothetical. This is the U.S. Senate.

This morning, the Senate Finance Committee — which is managed by a former JP Morgan lobbyist — held a hearing about JP Morgan Chase’s stunning $2 billion trading loss last month, with CEO Jamie Dimon testifying.

While Americans put their faith in Congress to hold the Big Banks accountable, a large portion of the senators on the committee this morning pitched …

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