Senate Banking Committee Testimony Of JPMorgan CEO Jamie Dimon Described As “A Big Ass Grabbing Love Fest!”
You can pause intro music down below
Of JPMorgan CEO Jamie Dimon Described As “A Big Ass Grabbing Love Fest” By Many People!
June 18th, 2012
Written by John Wright
Jamie Dimon, who is the Chief Executive Officer (CEO) of the JPMorgan Chase bank, testified on Capitol Hill last week before the Senate Banking Committeeon June 13th, 2012. He testified in regards to the $2 billion dollars in trade loss that JPMorgan Chase experienced because of irresponsibility and risky bets back in March and early April of this year. He testified to the Banking Senate Committee that it was because “CIO’s traders did not have the requisite to understand the risks they took.” In other words, in short, it meant that they did not know what the hell they were doing.
Now there were many who were shocked at the blatant public display of bravado and smugness that Jamie Dimon seemed to display before the Senate Banking Committee. There were even more people that were shocked and disgusted by the apparent “love fest” that was happening between some of the members of the Senate Banking Committee and the JPMorgan Chase CEO. This is because some of the Senators were caught on camera giving obvious “love stares” as they listened to Jamie Dimon answer their questions. For example, the youtube below will show you where one Senator starts by first lecturing Jamie Dimon by saying that he “understands the pressures” and he “is not labeling them or judging them” — but only feels that they are destroying Jamie’s potential. The Senator then tells Jamie that there are to be “no more shenanigans” and “no more tomfoolery” and “no more ballyhoo” — because he is not going to get off that easy. However, I want you to pay close attention to the readily apparent “love stares” that the Senator gives to Jamie when he tries to explain to the Senator just why he thinks he is this way.
Remember to look for the love stare.
(Please always watch the youtube attached because it is part of the story)
Okay, so that really was not the Senator or Jamie Dimon. However, I think you get the point.
Nobody should really be surprised that Jamie Dimon and the Senators acted this way though, after you consider that JPMorgan Chase has donated a substantial amount of money to at least six of the twenty two Senate Banking Committee members campaigns. This is including the Chairman of the Senate Banking Committee himself, Senator Tim Johnson from South Dakota. This is because it has been reported that JPMorgan has donated at least $80,000 to Senator Johnson since 1998 – but for the record — they have also donated $136,000 to the top Republican on the Committee, Senator Richard Shelby of Alabama. This might be why the Senate Banking Committee hearingended up being nothing other than the usual ass grabbing and love stare looking event that we all witnessed happening between members of the Senate Banking Committee and the JPMorgan Chase CEO, Jamie Dimon.
I mean I don’t think I have seen such “love stares” since the BofA and Merrill Lynch CEO were together when BofA bought Merrill Lynch. Click youtube below pictures and listen while you view pictures.
With that being said, there was one Senator who did challenge Jamie Dimon on the JPMorgan taxpayer Bailout issue.Senator Jeff Merkley (D-Oregon) pointed out to Jamie Dimond that JPMorgan:
- Had benefited in Half a trillion dollars in low cost federal loans.
- Had benefited in 25 billion dollars in TARPloans.
- Had benefited from untold billions indirectly from the bailout of AIG — which helped address their massive exposure and repurchase agreements and derivatives. In other words, if the investors did not receive the insurance money because AIG went belly up – it is likely they would have sued JPMorgan Chase and the other banks for selling them loans that they had misrepresented as being stable. This is because, as we all know, the commercial banks originated loans with homeowners who could not afford the payments. This is because the loans were securitized or insured and, therefore, the banks did not give a shit because soon it would be someone else’s problem once they sold it.
Senator Jeff Merkley (D-Oregon) also implied to Jamie Dimon that JPMorgan would have gone down without the massive federal intervention that had come both directly and indirectly in 2008 and 2009. That is when a very potentially disgruntled and snarky Jamie Dimon told Senator Jeff Merkley that he was “misinformed.” This is because, according to Jamie Dimon, JPMorgan did not need the bailout money that was given to them at that point. He then goes on to explain to the Senator that they had only taken the money because former United States Treasury Secretary Hank Paulsonasked them to. This is because Henry Paulson told them that they needed to take it to give to the other banks to save the entire American economy from collapsing. That might be why Jaime Dimon and the former CEO of Bank of Destroying The American Dream, Ken Lewis, think that you and I (the taxpayer) should thank JPMorgan and the notorious Bank of Defrauding America for being such great patriots by taking the bailout money to save the economy that they played a major role in ruining.
Don’t worry Senator Merkley – I’ve got this one for you — because I have longer than five minutes to talk. I will tell America what you really wanted to say.
For example, I noticed that Jamie Dimon’s testimony neglected to mention that these INVESTMENT BANKS AND THE AMERICAN ECONOMY WERE COLLAPSING BECAUSE OF THE BAD HOME LOANS THAT JPMORGAN AND THE OTHER COMMERCIAL BANKS – SUCH AS THE POTENTIALLY CRIMINAL BANK OF DESTROYING THE AMERICAN DREAM — HAD CREATED AND SOLD TO THE NOW COLLAPSING INVESTMENT BANKS.
The reality is that the investment banks were collapsing because — metaphorically speaking — the dope dealers (commercial banks) had made and sold a bad batch of crack (bad home loans) to their customers (the investment banks). I mean — of course the metaphoric drug dealers (the commercial banks) did not need the bailout money. That is because they had just made all that money selling that bad crack to their customers (the investment banks). However, the dope dealer’s customers (the investment banks) were all dying from buying and ingesting the bad batch of crack the dope dealers had just sold them. This would of course overload the hospital (AIG Insurance Company) with millions of overdosed crack victims (the investors) who had just ingested the bad crack (the bad loans). Unfortunately, the hospital (AIG insurance company) was not built to accommodate millions of overdosed crack victims (the investors) all at the same time. This resembled the investors making a run on the bank – or should I say – the insurance company. This would force the taxpayer (You) to give the hospital (AIG insurance company) a big fat taxpayer bailout. This would result in the drug users (the investors) not asking for a big fat refund from the bad crack (bad loans) that the drug dealers (commercial banks) had just sold them. Then the taxpayer (You) were then forced to even give the stupid dope dealers (commercial banks) a 16.6 TRILLION DOLLAR BAILOUT – just so the dope dealers (commercial banks) could buy back the entire batch of bad crack (bad loans) they had just made and sold to their customers (the investment banks such as Merrill Lynch) with taxpayer money. This is so the entire economy of the United States and the World would not eventually die from the bad crack (the bad home loans) that the drug dealers (commercial banks) had just sold them. This is because we were already seeing the effects of the bad crack (bad loans) that were sold to international investors – such as Greece. That is because the people of Greece (unlike the fat – dumb – and happy Americans who did nothing) were none too happy that their government wanted them to pay to save their investors by raising their taxes. Nevertheless, it seemed those chickens came home to roost for the dope dealers (the commercial banks) — because even the dope dealers had a problems now. This is because in 2009, nobody (meaning the investors) wanted to buy their bad crack (bad loans) anymore. What a dumb dope dealer to kill their customers with a bad batch of crack. However, the dope dealers (the commercial banks) could not help themselves because they were too greedy to stop long enough to see they were even killing themselves with the bad crack (bad loans). Now the dope dealers (the commercial banks) were about to also collapse – which incidentally – the United States economy was connected to both the good and the bad crack the drug dealers (commercial banks) had made. That is why the taxpayer (You) purchased Fannie and Freddie. That way Fannie and Freddie (the government) could stop the dope dealers (commercial banks) from collapsing — by buying up all the dope dealer’s (the commercial bank’s) bad crack they now had no customers (the investors) for anymore. Unfortunately, the result would be that Fannie and Freddie (the government and taxpayer) would now be the proud owner of bunch of bad crack (the bad loans). It is also why you actually have a zero balance with your lender — because the taxpayer paid off the loans to the banks. Nevertheless, in the meantime, the dope dealers (the commercial banks) realized that they now had a new customer that would continue to buy their bad crack (the bad loans). This new customer was way better than the old customer (the investment banks) — simply because this new customer would continue to buy their bad crack (the bad loans) even though they knew it was bad crack. The new customers were THE UNITED STATES GOVERNMENT. They knew that the United States government would continue to buy the bad crack in the form of bailouts – because like a junkie – the United States government needed the crack and the drug dealers to survive to get their fix that helped them survive too. There were also no laws to stop the drug dealers (the commercial banks) from making the bad crack (the bad loans). Well, I should say there used to be law against it, until the Clinton administration was able to get the Glass-Steagall Act repealed.
Now Jamie Dimon wants you to believe that they lost $2 billion dollars because the JPMorgan traders “did not have the requisite to understanding the risks they took.” However, in my opinion, Jamie Dimon and JPMorgan Chase are only trying to make one more last drug run before the drug is made illegal again.
That is why the American people will not be saying thank you for taking the bailout money, Mr. Dimon. Instead, the American people will be telling tell you to go fuck yourself!
See! I told you I got it Senator Merkley!
Now does anyone here still wonder why Iran wants nothing to do with implementing the American system in their country? (tongue- in – cheek) Come on Iran! It’s not so bad! Don’t be a dummy! Be a smarty! Come and join our banking party!
Well look at the bright side! At least we never have to worry about Iran destroying America with a nuclear weapon. This is because the Senate Banking Committee will have already let JPMorgan Chase and Jamie Dimon totally destroy America by the time Iran has built one.
My name is John Wright AND I AM FIGHTING BACK!
All Rise! The Honorable Judge Wright has left The Courtroom of Public Opinion!
- On 06/18/12 In House Testimony, Dimon Sticks to Script
- JPMorgan Is Spencer Bachus’s 2nd-Highest Donor As He Fails To Put Jamie Dimon Under Oath
- Full C-SPAN version Senate Banking Comimitee testimony
- Why the Senate Won’t Touch Jamie Dimon: How JPMorgan Props Up US Debt
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