Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Former J.P. Morgan Lobbyist Manages The Banking Committee Expected To Investigate J.P. Morgan’s Trading Loss

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Lee Fang
Republic Report
May 24, 2012

The Senate Banking Committee is responding to outrage over the news that J.P. Morgan lost some $3 billion in customer money because of a risky trading strategy. The committee is preparing for two hearings with regulators, and Senator Tim Johnson (D-SD), chair of the committee, is hoping that Jamie Dimon will testify in the near future. “Our due diligence has made it clear that the Banking Committee should hear directly from JPMorgan Chase’s CEO Jamie Dimon,” Johnson said in a statement last week.

Luckily for Dimon, the professional staff in charge of managing the banking committee will be quite familiar to him and his team of lobbyists. That’s because the staff director for the Senate Banking Committee is none other than a former J.P. Morgan lobbyist, Dwight Fettig.

In 2009, Fettig was a registered lobbyist for J.P. Morgan. His disclosures show that he was hired to work on “financial services regulatory reform” and the “Restoring American Financial Stability Act of 2009″ on behalf of the investment bank. Now, as staff director for the Senate Banking Committee, he will be overseeing the hearings on J.P. Morgan’s risky proprietary trading.

On the House side of Congress, J.P. Morgan may see even less of a risk in upcoming hearings. Chairman Rep. Spencer Bachus (R-AL), who would presumably manage any investigation into the bank, has already offered comments to the press defending the investment bank’s trading decisions.

Full article here

 

This article was posted: Thursday, May 24, 2012 at 2:58 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
The Truth About U.S. Air Strikes on Syria With Syrian Girl See the rest on the Alex Jones YouTube channel.

Mysterious Georgia Guidestones Get Strange '2014' Update See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.