Currently, the Senate Banking Committee is questioning JP Morgan CEO Jamie Dimon because his bank lost a few billion this year after pooh-poohing the early warning signs.
The Banking Committee and JP Morgan are very close. Some notes:
- The committee’s staff director is Dwight Fettig, a longtime confidant of chairman Tim Johnson (D). Fettig, after leaving Johnson’s staff was a lobbyist for Fannie Mae, and then went to K Street, where JP Morgan was a client.
- Jon Tester’s (D) former Banking Committee staffer Jason Rosenberg is now a lobbyist at the Glover Park Group, where represents JP Morgan and the American Bankers Association.
- Senators who voted to bail out Wall Street, including giving $25 billion in taxpayer money to JPM, in 2008: Reed, Schumer, Menendez, Akaka, Brown, Kohl, Warner, Corker. Nay votes were:Tester, Johnson, DeMint, Shelby, Vitter, Crapo.
