Just unbelievable - "Senate Swoons For Dimon Hearing Into $2B Loss - A Love-In For JPMorgan CEO

I've been out most of the day and am catching up on things - saw this on TPM. How can anything get better when things just seem to get worse - or at least more disgusting.

http://tpmdc.talkingpointsmemo.com/2012/06/jamie-dimon-senate-banking-committee-volcker-jpmorgan.php?ref=fpa

"The long-shot big hope for Wall Street reformers Wednesday was that JPMorgan CEO Jamie Dimon would trip up before the Senate Banking Committee and expose the need for tighter rules governing big banks. His firm, after all, recently lost billions making risky bets with depositor funds on the line.

Instead, with some notable exceptions, the senators themselves turned the cross-examination into a coronation, and exposed the extent to which elected officials still feel compelled to genuflect to powerful financial interests.

“You’re obviously renowned, rightfully so I think, as being one of the most, you know, one of the best CEOs in the country for financial institutions,” crooned Sen. Bob Corker (R-TN). “You missed this, it’s a blip on the radar screen.”

Most of the fawning came from GOP senators who in addition to relying on Wall Street largesse remain engaged in a political campaign against President Obama’s 2010 financial reform law. But some Democrats also treated Dimon if not quite like royalty then perhaps as a trusted confidant."

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