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President and CEO of JPMorgan Chase Co. Jamie Dimon testifies before a Senate Banking Committee hearing on Capitol Hill June 13, 2012 in Washington, DC.
It’s almost summer BBQ season but there was another kind of grilling underway in Washington today.
JPMorgan Chase CEO Jamie Dimon took the hot seat this morning in front of the Senate Banking Committee to try to explain how his bank lost $2 billion on one risky hedging strategy. Dimon apologized during the hearing for being “dead wrong” in his judgments and oversight, but after drawing harsh criticism for what critics said wasn’t a heartfelt apology last month on NBC’s Meet the Press, was he more convincing this time around? Patt looks into the allegations and into the psychology behind this public flogging.
From senators whose seats may be in danger to the general public, what is it about this modern day tar and feathering of American businessmen that gets us so excited? Does it usually result in regulation changes or is it more about the public spectacle?
Dawn Kopecki, Bloomberg News reporter; she was in today's hearing and has been covering since early April
Dr. Jack Brown , physician and Body Language Expert; he writes the blog bodylanguagesuccess.com