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Jamie Dimon managed to turn a multibillion-dollar trading loss into a winning moment.
The CEO of JPMorgan came sailing into the Senate office building this morning with a smile, and gave a pitch-perfect performance in explaining how a small group of traders in its London office screwed up a hedging strategy so badly that they lost at least $2 billion.
Dimon was apologetic, but not groveling. He stood his ground, but was not combative. He gave the impression he was an open book, but managed to give precious few details about how much the trading loss has grown.
He came off as so in-control that senators asked HIM for advice about how Washington should police Wall Street.
Investors gave Dimon rave reviews, sending the shares up 1.5 percent while the overall bank stock index closed down for the day.


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Forget executive privilege, contempt of Congress, "fast and furious," how many documents the government has produced and who said what to whom on which date.
The Obama administration has almost certainly engaged in the most shockingly vile corruption scandal in the history of the country, not counting the results of Season Eight on "American Idol."
Administration officials intentionally put guns into the hands of Mexican drug cartels, so that when the guns taken from Mexican crime scenes turned out to be American guns, Democrats would have a reason to crack down on gun sellers in the United States.
Democrats will never...

subset: commoncrawl


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From FARM GIRL, to Stanislaus RIVER GUIDE, to Gold Record KIDSSONGS songstress, to BLUESY SINGER/SONGWRITER, Nancy likes to sing with and for you.Nancy Cassidy's a California Valley dairy farm girl and second of seven kids. The first instrument she received when she was a little girl was a ukulele. A few years later, she set the uke aside and picked up a guitar that she has only ... Read more in Amazon's Nancy Cassidy Store
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