🚗 🚙 Turn your trusty old car into trustworthy journalism Learn more
Easy Street

From the Senate Hearing: JPMorgan’s Jamie Dimon

Marketplace Contributor Jun 13, 2012

Wall Street goes to the Senate

JPMorgan Chairman and CEO Jamie Dimon is before the Senate today to answer questions about his firm’s multibillion-dollar bad bet. Marketplace’s New York Bureau Chief Heidi Moore is covering the event via Instagram. Follow her play-by-play on Twitter. Updates to come.

Storified by · Wed, Jun 13 2012 14:07:34

Dimon facing Senate Banking Committee. http://instagr.am/p/L0UZwWRJc5/Heidi N. Moore
Will Jamie Dimon’s testimony be a great moment in Congressional grilling? My piece on Dimonpalooza: http://bit.ly/M28VX2Heidi N. Moore
300 people, riveted. http://instagr.am/p/L0eAzTxJRM/Heidi N. Moore
View from above the gallery. http://instagr.am/p/L0dg-0xJQ6/Heidi N. Moore
Sen Jim DeMint starts with Dimon love letter. "We lose $2bn every day here in govt…if we had clawbacks, we’d never get paid."Heidi N. Moore
Dimon on camera in gallery. http://instagr.am/p/L0S0fXxJcV/Heidi N. Moore
Jamie: plan for the big trade was to "earn a lot of revenue if there was a [global credit] crisis. I consider that a hedge." #JPMHeidi N. Moore
Jamie. http://instagr.am/p/L0ffDjxJR3/Heidi N. Moore
Mediagram: @andrewrsorkin, @lizzieohreally and the back of @cgasparino http://instagr.am/p/L0WMGZxJdm/Heidi N. Moore
Sen: "You said you don’t know what the Volcker Rule is. We don’t, either."Heidi N. Moore
SIDEBAR: Need a quick lesson on the Volker Rule? Marketplace Senior Producer Paddy Hirsch breaks down a key component of it known as “Prop Trading” in this archived episode of his Whiteboard video series. Click to watch. –>
Explaining proprietary trading and its risksmarketplacevideos
Heckler in brown jacket and Dimon, under boom mike. http://instagr.am/p/L0RuOERJb_/Heidi N. Moore
Menendez: "You said the hedge morphed. What did it morph into, Russian roulette?"Heidi N. Moore
Dimon, post-heckler. http://instagr.am/p/L0Swa9xJcU/Heidi N. Moore
Kroger:"You’re renowned, rightly so, for being the best CEO in the country for financial institutions. This is a blip on radar screen." #geeHeidi N. Moore
Stephen Cutler, former SEC enforcement chief now advising Jamie Dimon. http://instagr.am/p/L0eMF1RJRU/Heidi N. Moore
Paraphrasing: "Jamie, how do you find the TIME to run this giant financial institution you’re paid millions to oversee? How DO you do it?"Heidi N. Moore
Action shot: Dimon entering the gallery. http://instagr.am/p/L0S75XRJcX/Heidi N. Moore
Kroeger: "Bankers are always going to be ahead of regulators, and you give them their info. Unrealistic to think they’ll keep up."Heidi N. Moore
Sen Jim DeMint: "we may not have truly smart regulators." implied: "they’ll never be as big and strong and manly as you, Jamie."Heidi N. Moore
Photographers surround Jamie Dimon’s seat even before he shows up. http://instagr.am/p/L0PUF8xJa6/Heidi N. Moore
Sen Menendez drops some knowledge: "to paraphase Shakespeare: a hedge or not a hedge, that is the question." #looseparaphrasesHeidi N. Moore
JP Morgan’s head of communications cases the place. http://instagr.am/p/L0OhogRJan/Heidi N. Moore
SIDEBAR: Need some background on this story? Read Heidi N. Moore’s explainer:
JP Morgan’s Loss: The ExplainerHow did JP Morgan lose $2 billion on a single bet? Here’s some plain English to help understand it.
This will be Jamie Dimon’s view. http://instagr.am/p/L0NuA-xJaO/Heidi N. Moore
If anyone wants to use my blurry Dimon Instagrams, go ahead- with credit to me and link to http://marketplace.org. Thanks!Heidi N. Moore
Jamie Dimon, post-hearing. That’s @ericschatzker and @lizzieohreally behind him. http://instagr.am/p/L0hHIixJSw/Heidi N. Moore

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.