Senate Banking Committee's involvement in JPMorgan

President and CEO of JPMorgan Chase Co. Jamie Dimon drinks water as he testifies before a Senate Banking Committee hearing on Capitol Hill June 13, 2012 in Washington, D.C. The committee is hearing testimony from Mr. Dimon on how JP Morgan Chase lost over $2 billion in stock market trades.

This final note today, to get us back to where we started. That Senate Banking Committee this morning was a very neat intersection of money and power. There are 22 senators on the committee. Sixteen of them have taken campaign contributions from JPMorgan's political action committee.

We called each and every one of their offices to get an on the record comment about that. They all -- except New Jersey's Bob Menendez -- answered pretty much the way Mr. Dimon did in the hearing.

Jamie Dimon: I don't know.

About the author

Kai Ryssdal is the host and senior editor of Marketplace, public radio’s program on business and the economy.
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Marketplace, without saying one way or the other, was skillful in showing how Congress just 'went down' on Dimon & gave him/JPM a 'Pass' for being incompetent.
Sorry for the vulgarity, but that is exactly what that 'hearing' was - Vulgar.
Wall Street Strikes Back. And investors/customers get (again, my reference) something vulgar from behind. No matter - I've been Shorting Financials & will continue to do so. Morally, This is just one more reason to make money off of the arrogance of those who think that everyone outside of their circle is just another hayseed.

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