Tuesday, March 31, 2015
Senator Warren meets Jamie Dimon
See this article. Warren added an Afterword to her book A Fighting Chance wherein she recalls her 2013 meeting with Dimon. Dimon was whining that banks were over regulated and Warren disagreed. Dimon threatens Warren about his clout over confirming the CFPB Director, and Warren said if he followed through he'd be violating Dodd-Frank. To which Dimon replied to the effect of "so fine us, we can afford to buy our way out of it." Which is pretty much what JP Morgan did in 2014, paying $20 billion in fines for breaking the law, in essence buying their way out of it. It's just amazing that they can get away with just fines they can afford due to criminal activity on which they are never prosecuted.