you need to listen to bernie sanders. we need top listen these guys sit on federal courts, take billions of dollars, bailouts, zero this man needs to go to jail along with his of course, security hustled them out. jamie dimon seemed not flustered by all of that, quite frankly. this is still happening. you re going to get more pointed questions about, should there be more oversight on wall street? asked point blank, if other smaller, less capitalized banks were doing the same thing, could it take down the financial system? he didn t really answer that question, except that we have a lot of money on our books. this is not something that would have taken down jpmorgan. hurt their shareholders, but certainly i think there could be more fireworks later on but so far civil, i ll be honest. probably will be more fireworks. dodd-frank was supposed to be about reforms and preventing this. we ll follow it throughout the hour. christine romans, thank you. keep a close eye on
ironically, from the chase department in charge of mitigated risk. my colleague, christine romans watching this hearing from her post in new york. the department that s supposed to mitigate risks made these risky trades and now he is having to answer questions. it s obvious why congress wants to know why these stupid trades were made. yeah. he says, you know what? i m not going to defend it, because it violates common sense. it shouldn t have happened. what was, maybe should have been a legitimate, bona fide macroeconomic hedge, morphed into something else, he says, and he did not defend it. talk about, you say a grilling. a civil discussion. in part because he is so contrite here. the conversation just now turning into something more about what do you think about dodd-frank and the volcker rule and new regulations he has been vocal against. but as far as that trade, he says, no, you re right. it shouldn t have happen and we re sorry for that. in particular, let me tell you