I may make this a recurring feature. Add this to the list of modern torture devices. Testifying before a Senate committee:
JPMorgan’s chief executive Jamie Dimon is appearing before the Senate Banking Committee in Washington, D.C. this morning to testify about the $2 billion trading loss the bank revealed last month.
On May 10th, JPMorgan disclosed a multi-billion dollar trading loss in the bank’s Chief Investment Office in London related to derivatives trades.
The Securities and Exchange Commission, the Federal Reserve, the Commodity Futures Trading Commission, the Justice Department and the FBI are all said to be looking into the trading loss.
The modern equivalent of the rack. It’s used to extract campaign contributions from Wall Street bankers.
It works! In aggregate the members of the Senate Banking Committee have extracted $877,798.00 in campaign contributions from JPMorgan alone.