Not. During his testimony yesterday in front of the Senate Banking Committee, JPMorgan CEO, Jamie Dimon, got his proverbial ass kicked for making highly risky bets with depositor money and losing billions. Well, okay, not really kicked. More like patted.
Sen. Bob Corker R-TN) all but sung sweet nothings in Dimon’s ear, almost as though he was a treasured infant being lulled to sleep:
“You’re obviously renowned, rightfully so I think, as being one of the most, you know, one of the best CEOs in the country for financial institutions. You missed this, it’s a blip on the radar screen.”
Sen. Jerry Moran (R-KS)showed concern only for Conservative messaging regarding the free market:
“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. [Your] 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.”
And then there’s Sen. Jim DeMint (R-SC), Mr. Tea Party himself, who all but prostrated himself before Dimon, completely excusing Dimon’s actions:
“I really appreciate you voluntarily coming in to talk with us. 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.”
And now that you’ve read this, you can go back to work knowing that this country is in the tender hands of the wonderfully self-sacrificing citizens serving in our federal government (no red carpet for banksters here!). You know, those who serve with thoughts only of country, not ever dreaming of enriching themselves with hands out for corporate cash.
Oh, and here’s the video for you to watch in case you’re not yet enraged enough: