Praised instead of Jailed (H/T – Helga)

On his show Thursday night, The Daily Show host Jon Stewart mocked members of the Senate Banking Committee for going soft on JP Morgan Chase CEO Jamie Dimon after his firm lost at least $2 billion gambling on derivatives.



7 comments ↓

#1 Sy on 06.15.12 at 10:14 am

This Govt. pisses away $2 billion 10 times a week 10 different ways. I respect Johnson, but this comes off as if it’s part of the “bash Wall Street. Wall Street = Romney” strategy eminating from 1600 Pennsyvania Avenue.

#2 Detroit Lewis on 06.15.12 at 10:38 am

Yeah, and we get things like defense, education, roads, etc. for that money.

#3 John on 06.15.12 at 3:30 pm

nah, Senator Johnson is part of the problem, not a solution. The problem is the banksters own the senate. And they’ve been busy buying judges in the 39 states stupid enough to elect appellate judges. The system is rotten to the core: heave ho; it has to go.

Here’s the donations from JP Morgan to the Banking Committee members, from the American Banker, and the link to the accompanying article.
http://cdn.americanbanker.com/media/newspics/AB061312DIMON2.jpg

http://www.americanbanker.com/issues/177_113/jmporgan-chase-builds-vast-web-of-staff-money-connections-to-lawmakers-1050063-1.html

#4 rufusx on 06.15.12 at 3:59 pm

Meanhwile – Romney gets an elevator for his car.

#5 concerned liberal on 06.16.12 at 5:56 pm

Barth was right! Check out this Bill Moyers piece.

http://www.youtube.com/watch?v=vGMXnsaCdXs

#6 Lemming on 06.17.12 at 1:34 am

Senate Banking Chair Calls Jamie Dimon to Testify: But JP Morgan Chase is His Biggest Contributor!
By Thomas Ferguson | Sourced from AlterNet

Holding your breath about the fallout from J. P. Morgan Chase’s derivatives losses? Yesterday, if you believed Politico, you could exhale. Senate Banking Committee Chair Tim Johnson of South Dakota announced his panel would call JP Morgan Chase Chair Jamie Dimon to testify.

It’s good that the watchdog is barking, but we’d all better watch closely to see if it will bite. Here’s what Politico didn’t tell you. Political Money Line’s tabulations of PAC contributions show that securities and financial firms have given more money to Johnson than any other sector in the last three election cycles. In the current cycle, for example, almost two thirds of his $361, 582 in PAC money comes from such firms. In 2008, when he collected over $2 million in PAC contributions, the swag from that quarter amounted to over half a million dollars – and neither figure takes account of numerous individual contributions. Johnson calls his leadership PAC “South Dakota First,” but, not surprisingly, contributions to his campaign committee from New York and other states often run far ahead of receipts from his own state.

Alas, it gets worse. Here’s the real punch line. Which firm is Johnson’s single largest contributor? You guessed it: The Center for Responsive Politics’ count shows that in both the current election cycle and the cycles between 2005-2010, it is JP Morgan Chase.

Don’t bank on the watchdog.

#7 l3wis on 06.17.12 at 1:55 am

JP Gave to both parties. I don’t trust any party politician, that’s why I don’t like to cover national politics that much anymore. It’s pathetic.