By Henry Decker

Former JPMorgan Lobbyist To Manage Investigation Of JPMorgan

May 24, 2012 3:49 pm Category: Memo Pad 16 Comments A+ / A-
Former JPMorgan Lobbyist To Manage Investigation Of JPMorgan

The Senate Banking Committee is calling on embattled JPMorgan Chase CEO Jamie Dimon to explain his firm’s massive investing losses in London — which are now estimated to be as high as $7 billion — but Dimon shouldn’t be too worried about congressional repercussions.

After all, the man in charge of managing the banking committee is — you guessed it — a former JPMorgan Chase lobbyist.

As Lee Fang writes in Republic Report, Dwight Fettig made $448,225 as a registered lobbyist for JP Morgan in 2009 before being hired as staff director for the Senate Banking Committee by chairman Tim Johnson (D-SD) in 2010. As Fang points out:

His disclosures show that he was hired to work on “financial services regulatory reform” and the “Restoring American Financial Stability Act of 2009″ on behalf of the investment bank. Now, as staff director for the Senate Banking Committee, he will be overseeing the hearings on J.P. Morgan’s risky proprietary trading.

Even if Fettig had not passed through the revolving door between lobbying and Congress, JPMorgan probably wouldn’t have had anything to fear from Senator Johnson. The finance, insurance, and real estate sector contributed $1,763,325 to Johnson from 2005 to 2010, making up about a quarter of Johnson’s war chest.

Former JPMorgan Lobbyist To Manage Investigation Of JPMorgan Reviewed by on . The Senate Banking Committee is calling on embattled JPMorgan Chase CEO Jamie Dimon to explain his firm's massive investing losses in London -- which are now es The Senate Banking Committee is calling on embattled JPMorgan Chase CEO Jamie Dimon to explain his firm's massive investing losses in London -- which are now es Rating:

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Comments

  • ObozoMustGo

    Well… we all know Eric “The Incompetent” Holder wasnt going to do a damned thing about anyone on Wall Street. Too much campaign money at stake.

    For all of Obozo’s huffing and puffing about “fat cats on Wall Street” and all his posturing on how Wall Street created the housing bubble (not entirely true), he and The Incompetent One have not filed a single charge against a single Wall Street executive since they have been “Occupying” the White House. Not a single one!

    To all my lefty and right friends at The Memo,

    Have a nice day and a great Memorial Day weekend as we honor those who have given the ultimate sacrifice for the freedoms we share in this greatest nation on God’s green earth!

    • Bodine666

      So we should all vote for romney because, as we all know, he’ll get the banks in line, right.

      Wait a minute, didn’t the dems try to pass regs to stop this but the repubs blocked them at every effort?

      Cons crack me up. They really do. They all complain about all the presidents runaway spending (a false claim) and complain that he hasn’t done anything to end wall street corruption. I thought you guys were all about the Constitution. Funny how you all forget all spending bills must originate in the House and all bills are passed by Congress. The President can either sign them or veto them. I guess conservatives really don’t know much about the Constitution after all. The President couldn’t possibly do any of the things they blame him for. In reality, if spending is out of control I can see how you would conveniently forget the republican dominated House would be the one to blame.

      • ObozoMustGo

        uhhhh 666….. you leftist nutjobs and useful idiots seem to forget that Obozo had complete control of the House and Senate with supermajorities FOR TWO YEARS.

        And that control scared the hell out of Americans. So, in 2010, we American Patriots streamed to the polls by the millions to change out that majority in a HISTORIC a$$ whipping specifically for the purpose of putting the airbreaks on Obozo’s socialist agenda! You leftist nutjobs dont get it. WE DONT WANT OBOZO TO DO ANY MORE HARM!!!!

        And dude… Obozo has added $5TRILLION to the debt in 3 years!!!!! THREE SHORT YEARS!!! Of course it’s his spending. Who the hell else is signing the continuing resolutions? Ohhhhh… that’s right….. George Bush must be sneaking in the White House and signing those bills, huh? Dont be such an idiot!

        $5 TRILLION in debt belongs to Obozo! He owns it. It’s his problem! And he will pay the price in November because, fortunately, the rest of America is not nearly as stupid as you leftist nutjobs to belive otherwise.

        Have a great Memorial Day!

  • http://www.facebook.com/carolknows Carol Martin

    obozo is an odiot

    • CPANY

      Ms. Martin:

      How can you call guy who gets himself elected to the American presidency with little practical governmental experience an idiot?

      Maybe he’s a phony, but he’s hardly an idiot. On the other hand, he’s not the first president to be elected with little governmental experience. Abraham Lincoln fits that description.

    • ObozoMustGo

      Yes he certainly is…. How he got to be president, I’ll never understand, Carol.

      Have a great weekend!

      • http://profile.yahoo.com/YPI4NVMAWGSK43SFUAL6OUISGA Bunny

        I think he might have been talking about you ?

        Have a nice day !

        • ObozoMustGo

          Noooooo…. do you think, Bunny?

          Have a great Memorial Day weekend!

        • ObozoMustGo

          By the way, Bunny…. I’m pretty sure, though admittedly not certain, that Carol is a female. These days, with all those freaks out there getting “The Operation”, it is hard to tell. But in this case, I’d say it’s a safe bet.

          Have a nice day!

  • CPANY

    Again, the tight bond between big money and what laughingly passes for our leadership is reaffirmed.

  • http://www.facebook.com/debbie.kieselryan1 Debbie Kiesel-Ryan

    OH YEAH!!!!! This will be Dimon’s get out of jail free card!!!!!! Who in their right mind thinks anything is going to happen now, and it’s up to $7 Billion!!!!!!

  • ObozoMustGo

    Obituary…..

    Today we mourn the passing of a beloved old friend, Common Sense, who has been with us for many years. No one knows for sure how old he was, since his birth records were long ago lost in bureaucratic red tape. He will be remembered as having cultivated such valuable lessons as:

    – Knowing when to come in out of the rain;
    – Why the early bird gets the worm;
    – Life isn’t always fair;
    – And maybe it was my fault.

    Common Sense lived by simple, sound financial policies (don’t spend more than you can earn) and reliable strategies (adults, not children, are in charge).

    His health began to deteriorate rapidly when well-intentioned but overbearing regulations were set in place. Reports of a 6-year-old boy charged with sexual harassment for kissing a classmate; teens suspended from school for using mouthwash after lunch; and a teacher fired for reprimanding an unruly student, only worsened
    his condition.

    Common Sense lost ground when parents attacked teachers for doing the job that they themselves had failed to do in disciplining their unruly children.

    It declined even further when schools were required to get parental consent to administer sun lotion or an aspirin to a student; but could not inform parents when a student became pregnant and wanted to have an abortion.

    Common Sense lost the will to live as the churches became businesses; and criminals received better treatment than their victims.

    Common Sense took a beating when you couldn’t defend yourself from a burglar in your own home and the burglar could sue you for assault.

    Common Sense finally gave up the will to live, after a woman failed to realise that a steaming cup of coffee was hot. She spilled a little in her lap, and was promptly awarded a huge settlement.

    Common Sense was preceded in death,
    -by his parents, Truth and Trust,
    -by his wife, Discretion,
    -by his daughter, Responsibility,
    -and by his son, Reason.

    He is survived by his 5 stepbrothers;
    – I Know My Rights
    – I Want It Now
    – Someone Else Is To Blame
    – I’m A Victim
    – Pay me for Doing Nothing

    Not many attended his funeral because so few realised he was gone.

    If you still remember him, pass this on. If not, join the majority and do nothing.

    Have a great Memorial Day weekend! Remember, we are the land of the free because of the brave.

    • dtgraham

      Don’t use a few examples of extreme over political correctness as an excuse to justify far right economic and social policies. Do you have any idea what horrors were once considered simple common sense before education, enlightenment, and true actual human reason replaced them in the 20th century? Wives should always be totally subservient to their husbands in all situations as they are not created equal……Women should obviously not be able to vote……the white man has rights that colored persons have to respect…… etc, etc, etc. Grab some history and sociology books my conservative simpleton friend.

      Don’t have a nice day!

      • ObozoMustGo

        dt…. relax… it’s a satirical piece. Get a life, will you? And don’t be so damned angry all the time. I know that’s hard for a leftist nutjob that views the world through the lenses of victimhood around your Holy Trinity of Race, Gender, and Class. But keep on trying. It’s not healthy for you.

        Have a nice Memorial Day weekend.

  • http://www.facebook.com/people/Daniel-Jones/827014412 Daniel Jones

    Reading this article, I am appalled to find the ad link just over the story is for… you guessed it!, J.P. Morgan!!

  • Bodine666

    —– you leftist nutjobs and useful idiots —–

    I believe con-bagger’s heads would explode if they if they weren’t able to spew their vile, hateful, semi-literate rhetoric. Great way to win others with your argument. Just gotta love those con-bagger values. Bigotry, intolerance, racism, irrational hatred, and mindlessly following anybody that claims to speak for gawd! Better evidence of Dunning-Krueger could not be found anywhere outside the conservative bubble.

    I just love the way the President can bypass congress completely and spend any amount he wants to. Were you this filled with rage when the repubs doubled the debt? Or do you just get angry when repubs can’t double the debt? Just curious, what happened to the ‘JOBS, JOBS, JOBS’ the con-bagger crowd was pushing? Not a single bill to help with jobs. Plenty of bills that attack women, minorities, and the middle class but not a single jobs bill.

    The con-bagger claim to patriotism is the biggest fraud I’ve seen in years. None of you want to pay taxes but you expect to have the road in front of your house paved. You want the ‘freedom’ to not have insurance coverage but every time one of you is in a car crash do you go home? Of course you don’t. You go to the nearest hospital and expect the real patriots, the taxpayers, to foot your medical bills. You’re all gung-ho for war, that is, so long as you don’t actually have to go fight but become indignant if somebody mentions actually paying for it. As far as education, well, your post speaks for itself. I’d debate you on the merits of your claims but I can’t since I don’t speak idiot.

    Go vote for romney since, clearly, eight years of bush wasn’t enough for you. It seems a masochist need for punishment can never be satisfied. Speaking of harm, romney will be bush on steroids. He’s your kind of guy. Wants to eliminate education, give even more tax cuts to the rich, start another unfunded war, this one with Iran, kick seniors under the bus with his budget plan that will end Medicare and will add $ trillions $ to the debt, sell off all public lands to his Wall St. buddies for pennies on the dollar, and eliminate all environmental protections. Hope breathing isn’t high on your list of wants.

    Gotta love those con-baggers. Filled with hate, anger, and fear. Easily incited, easily led, un-inclined to think for themselves, impervious to facts and reason, and rely on social support to maintain their beliefs. Have double standards, are unprincipled. and are usually hypocrites. Prefer ignorance and wants everyone else to be the same way. Blind to themselves, ethnocentric, prejudiced, and as closed minded as they are narrow-minded. This is how conservatives describe themselves. I see no reason to disagree with them.

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