Out for Blood: What Critics Are Saying About JPM's 'Egregious' Mistake
May 14, 2012 10:10 PM
Elizabeth Warren
The long-time big bank nemesis and now Massachusetts Senate candidate Elizabeth Warren called on Dimon to resign his spot on the New York Fed board and started a push for a new version of Glass-Steagall. (Image: Bloomberg News)
John Carney
The White House spokesman didn't mention Dimon by name, but said the JPM losses "reinforces why the president was right" to enact Dodd-Frank and defend it against bank lobbyists hoping to water it down. (Image: Bloomberg News)
Sen. Carl Levin
The Michigan Democrat said the trading losses proved the need for tough implementation of the Volcker Rule, which he championed in Congress. (Image: Bloomberg News)
John Kanas, CEO of BankUnited
"If Jamie Dimon and his crew can't understand what this was, you have banks that are too big to manage, banks that are too big to regulate." (Image: Bloomberg News)
Simon Johnson, economics professor at the MIT Sloan School of Management
"In any other industry, when faced with large losses incurred in such a haphazard way and under his direct personal supervision, the CEO would resign." (Image: Bloomberg News)
Sen. Bob Corker
The Tennessee Republican called for a hearing on the JPM losses and raised several questions about the transactions: "Were these bona fide hedging transactions or were these poorly managed proprietary trades?" (Image: Bloomberg News)
