Jamie Dimon and the Art of Apologizing

Friday, June 15, 2012

Earlier this week JP Morgan chief Jamie Dimon went up to Capitol Hill. He sat in front of a Senate committee, and Dimon... apologized. This got Takeaway Washington Correspondent Todd Zwillich thinking about other instances of public figures apologizing to Congress.

Produced by:

Joseph Capriglione and Jay Cowit

Contributors:

Todd Zwillich

Comments [2]

kurt

The problem with it, Charles, isn't taxpayer money. That's isn't the cornerstone of every arguement. The problem is he can lose $2 billion and still get billions in government handouts, but the average American, and average college student, are turned away by him for loans as "too high of a risk"? This guy loses billion's in bad investments and keeps getting more. The average american can get a repossesion, or a little behind in credit card payments and they are the black plague. Nice try at deflection there.Throw a red herring and hope people's attention follows it. P.S. work on the spelling also.

Jun. 28 2012 12:44 PM
Charles

Oh what a wasted bit of airtime this was. Obviously, the point that The Takeaway had selected was that JP Morgan had done something terrible and "the apology" was the big story.

How about the corporate apologies that should never have been required? Toyota was mentioned by Todd Zwillich; what did Toyota apologize for? A nonexistent design/manufatcutring defect? Congress and the media stampeded Toyota into that apology.

JP Morgan lost not one dime of taxpayer money. The bank made about $7 billion for the quarter in which the one hedge lost $2 billion.

By far the best line of the Dimon hearing was the hilarious comment from Sen. Jim DeMint: "We lose twice that [$2 billion] every day in Washington and plan to continue to do that..."

How did that brilliant observation not make it onto public radio?

Jun. 15 2012 02:41 PM

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