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Our country's double standard

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Our country's double standard

Postby Charles » Wed Jun 13, 2012 12:29 pm

No wonder our moral fabric is tearing at the seams.

Corporate executives can pretty much do what they want with the government they've bought and control.

Oil spills, financial meltdowns, price gouging, fraud, nothing gets them in any hot water. They prosper even more.


Senate treats JPMorgan CEO Dimon with kid gloves

By Roland Jones
June 13, 2012

It was billed as a tough grilling but ended up more like a light sauté.

JPMorgan CEO Jamie Dimon lived up to his reputation for steadfastness and tough dealing Wednesday in a forthright, and sometimes combative, performance before the Senate Banking Committee.

Dimon was expected to receive a frosty reception in his first congressional appearance since he announced the bank sustained a trading loss some analysts now estimate is at least $3 billion. It was a massive loss for the nation's biggest financial institution.

Instead, Dimon, who has won praise for bringing JPMorgan (JPM) through the financial crisis relatively unscathed, was treated cordially by most of members of the Senate Banking Committee. They peppered him with questions about regulation and risky practices at the bank, but did not press him to give an update on the losses resulting from the trade.

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