Senators Grovel, Embarrass Themselves at Dimon Hearing
I was unable to watch J.P. Morgan Chase CEO Jamie Dimon’s Senate
testimony live the other day, so I had to get up yesterday morning and
check it out on the Banking Committee’s web site. I had an inkling, from
the generally slavish news reports about the hearing that started to come out Wednesday night, that it would be a hard thing to watch.
But I wasn’t prepared for just how bad it was. If not for Oregon’s
Jeff Merkley, who was the only senator who understood the importance of
taking the right tone with Dimon, the hearing would have been a total
fiasco. Most of the rest of the senators not only supplicated before the
blowdried banker like love-struck schoolgirls or hotel bellhops, they
also almost all revealed themselves to be total ignoramuses with no
grasp of the material they were supposed to be investigating.
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