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CNBC Live Blog
Published:
Tuesday, 12 Jun 2012 | 9:26 AM ET
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Jamie Dimon Testimony
Live commentary and analysis from CNBC on JPMorgan Chase CEO Jamie Dimon's testimony before a Senate committee in Washington.
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If you are looking to short the #Dimon event, short Morgan Stanley $MSby KeithMcCullough via twitter 6/13/2012 1:47:25 PM -
RT @moorehn: This will be Jamie Dimon's view. instagr.am
by mcatwellons via twitter 6/13/2012 1:50:48 PM -
Morgan Stanley $MS has more exposure to debt downgrades and Volcker rule implementation than $JPMby KeithMcCullough via twitter 6/13/2012 1:51:51 PM
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Jamie Dimon has entered the hearing room and is shaking hands with committee members. (via Bria Cousins)by mcatwellons via twitter 6/13/2012 2:02:56 PM
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Dimon in the House #DimonHearingby LoriSpechler via twitter 6/13/2012 2:03:10 PM -
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Jamie Dimon enters hearing room and man screams: "Jamie Dimon is a crook! He should be fired!" (via CNBC's Bria Cousins)by cnbc via twitter 6/13/2012 2:04:09 PM -
Protesters in the Jamie Dimon hearing are chanting "stop foreclosures now!"by EamonJavers via twitter 6/13/2012 2:04:10 PM -
Protestors screaming stop forclosures now via CNBC Producer @briabrie #DimonHearingby LoriSpechler via twitter 6/13/2012 2:04:58 PM
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Protesters disrupt opening of hearing on JPM's trading losses chanting "stop foreclosures now." (via @MThompsonCNBC)by cnbc via twitter 6/13/2012 2:08:00 PM
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CNBC got it RT @davidgaffen: So do I make an attempt at live-blogging ths Dimon hearing? Or giv it a game effort & abandon it after 15 mins?by LoriSpechler via twitter 6/13/2012 2:08:01 PM
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High profile Capitol Hill hearings are often interrupted by the group Code Pink. But I didn't see any of their regulars on the tape we have.by EamonJavers via twitter 6/13/2012 2:08:55 PM
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Protesters handcuffed at #DimonHearing via #CNBC producer KJ_Sloanby LoriSpechler via twitter 6/13/2012 2:09:17 PM
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Protesters handcuffed at #DimonHearing via #CNBC producer @KJ_Sloan (adds @ !!)by LoriSpechler via twitter 6/13/2012 2:10:16 PM
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RT @AmandaWeindel: Cant watch the Dimon Testimony on TV? No worries @CNBC got you covered! Live Streaming and blogging here ...by mcatwellons via twitter 6/13/2012 2:14:52 PM
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The banking committee staff has been called the "fuzzy pet" of the banking sector. Many former staffers now work for JP Morgan. Steven Patterson, former Staff Director of Senate Banking Committee, is now VP of Government Relations for JPM.
Kate Childress was a banking subcommittee staff director. Now a Lobbyist at JP Morgan Chase.
Jenn Fogel-Bublick was counsel to Banking Committee. She is now lobbyist at McBee Strategic Consulting, a firm that lobbies for JP Morgan. -
$JPM's "Dimon premium has evaporated" John Hancock's Scanlon on #CNBC #DimonHearingby LoriSpechler via twitter 6/13/2012 2:16:43 PM
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RT @nikdeogun: Some exciting news of our own this morning. More great CNBC content in more places. m.cnbc.comby GuyAdami via twitter 6/13/2012 2:17:44 PM -
Interestingly, the Banking Committee's website appears to be down.
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Not long ago, JP Morgan Chase CEO and chairman Jamie Dimon was widely lauded as the King of Wall Street.
As many CEOs of powerful Wall Street firms were toppled, Dimon stood tall.
Duff McDonald’s biography referred to him as “The Last Man Standing.” He was said to be the White House’s favorite banker, perhaps even a candidate to replace Tim Geithner as Treasury Secretary.
That was before his bank suffered sudden and unexpected losses that have swollen into the billions of dollars. Estimates of the losses range from $3 billion to $7 billion, although the details of the trade are still not well known.
“We have let a lot of people down, and we are sorry for it,” Dimon has said.
Dimon will face questions before the Senate Banking Committee today about how JP Morgan Chase’s chief investment office allowed complex derivatives trades intended to diminish risks at the bank to “morph” into billions of losses. And because he emerged as a prominent critic of post-financial crisis regulation, Dimon is also likely to face questions about whether these losses are evidence that banking regulations need to be even more stringent.
This is the CNBC liveblog of the testimony. Here we go! -
RT @CNBCMelloy: Protesters already break up Dimon hearing. Where's Murdoch's wife when you need her for a smackdown? $JPMby terranovajoe via twitter 6/13/2012 2:19:25 PM -
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In case you're wondering, Sen. Johnson's speech is affected by a stroke he suffered several years ago.by EamonJavers via twitter 6/13/2012 2:19:43 PM
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"So, what happened?" Dimon #DimonHearingby LoriSpechler via twitter 6/13/2012 2:21:06 PM
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#Dimon on how the losses piled up: "These are not excuses, these are reasons."by kaylatausche via twitter 6/13/2012 2:21:40 PM -
Dimon: "These are not excuses, these are reasons."by EamonJavers via twitter 6/13/2012 2:21:48 PM
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@andrewrsorkin Andrew do you think Sen. Shelby can be objective in his role with his list of donors www.opensecrets.orgby RayMcLennan1 via twitter 6/13/2012 2:22:29 PM -
#Dimon goes off written testimony to say snr mgmt -- "and I include myself in that" -- should have better monitored CIO office. $JPMby carlquintanilla via twitter 6/13/2012 2:23:55 PM -
"Our fortress balance sheet remains intact" Dimon #DimonHearing $JPMby LoriSpechler via twitter 6/13/2012 2:24:18 PM
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Did jamie dimon just say "markets in turmoil?" #CNBCby mcatwellons via twitter 6/13/2012 2:25:10 PM
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@jimcramer #Dimon essentially argues the trade was too complex for existing staff to understand. Why ever invest in such vehicles? #JPMORGANby FrankLlewellyn via twitter 6/13/2012 2:25:48 PM -
Let the questioning begin #DimonHearingby LoriSpechler via twitter 6/13/2012 2:25:55 PM
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Dimon: "I was dead wrong" when he made "tempest in a teapot" comment.by EamonJavers via twitter 6/13/2012 2:26:41 PM
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RT @EamonJavers: Dimon: "I was dead wrong" when he made "tempest in a teapot" comment.by LoriSpechler via twitter 6/13/2012 2:26:53 PM
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Did Dimon just throw Ina Drew under the bus?by EamonJavers via twitter 6/13/2012 2:27:02 PM
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Dimon: When issues first arose, it was thought to be an isolated problem. (Note: Q&A portion has begun)by cnbc via twitter 6/13/2012 2:27:33 PM
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@EamonJavers He did that when he fired her.by IvantheK via twitter 6/13/2012 2:29:01 PM
Data is a real-time snapshot. *Data is delayed at least 15 minutes. | 
