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April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review June 15, 2012/ 25 Sivan, 5772

The Wall Street Senate

By Dana Milbank




http://www.JewishWorldReview.com | JPMorgan Chase boss Jamie Dimon has been a scourge of the Obama administration in recent months, but when he appeared on Capitol Hill on Wednesday, Republicans found the head of the country’s largest bank to be alarmingly off-message.

Dimon had little interest in joining Republicans in complaining that President Obama’s regulations destroyed capitalism as they knew it. In fact, he even had some kind words for the Dodd-Frank financial reforms. And the banker’s most passionate plea to the lawmakers was one that Republicans most emphatically don’t want to hear: Enact the Simpson-Bowles debt proposal, a package of spending cuts and — gulp — increased tax revenue that was largely scuttled by House Republicans.

“If we had done something remotely like Simpson-Bowles,” Dimon said in response to Sen. Michael Bennet (D-Colo.) at the end of the hearing, “you would have increased confidence in America. You would have shown a real fix of the long-term fiscal problem. I think you would have had . . . a more effective tax system that is conducive to economic growth.”

In fact, he said, not enacting such a plan “helped cause a downturn last year.”

Ostensibly, Dimon went to Capitol Hill to be grilled about his bank’s loss of more than $2 billion on an investment strategy that amounted to a glorified game of craps. Members of the Senate banking committee were to determine whether stronger financial regulations would be needed to prevent such gambling. But tougher regulation is unlikely, given Wall Street’s bankrolling of panel members’ campaigns, and lawmakers acted as though they were wholly owned subsidiaries of JPMorgan.

“Mr. Dimon,” said Sen. Mike Johanns (R-Neb.), it “occurs to me that an enterprise as big and powerful as yours, you’ve got a lot of firepower and you’re — you’re just huge.”

“You’re obviously renowned, rightfully so, I think,” contributed Sen. Bob Corker (R-Tenn.), “as being one of the most, you know, one of the best CEOs in the country.”

Democrats, perhaps worried that Wall Street has been shifting its campaign largess to Mitt Romney and the Republicans, joined the sycophancy sweepstakes. Sen. Robert Menendez (N.J.) called JPMorgan Chase “one of the nation’s finest,” and Sen. Jon Tester (Mont.) told Dimon: “You guys know the industry better than anybody sitting up here.”

But who could keep pace with Sen. Jim DeMint (R-S.C.), who said, “We can hardly sit in judgment of your losing $2 billion”? The apparently awestruck senator stammered: “I — I — I think we do need to recognize that you are a very big bank, the biggest in the world.”

Despite all the affirmations of how very big and large and huge and great and powerful Dimon is, he declined to join their all-out assault on the Wall Street reforms.

“Has Dodd-Frank more than marginally made our banking system safer?” Corker asked.

“You know we supported some elements — ” Dimon began.

“I know what you supported,” Corker snapped. “Has it made our financial system safer?”

“I think parts of it, in conjunction with higher capital liquidity,” the executive replied. “The financial system is safer today than it was in ’07.”

Sen. Roger Wicker (R-Miss.) asked if he could paraphrase Dimon’s answer as “the financial system is safer today, and you can’t say that Dodd-Frank has helped at all.”

Dimon repeated his admission that “Dodd-Frank and other things made it safer.”

He acknowledged that the “Volcker rule,” a proposed regulation that would sharply limit banks’ trading, “may very well have stopped parts” of Morgan’s losing bets. He conceded that regulators have made “improvements in companies, including JPMorgan.”

Johanns asked whether Dodd-Frank created red tape “so hard to navigate” that banks leave the country.

“We’re going to be fine ourselves,” Dimon replied. “We’ll be able to navigate all that.”

It wasn’t as if the banker suddenly loved the regulatory state; he said the Volcker rule is “unnecessary.” And although his prepared remarks were stocked with contrition (“We’ve let a lot of people down and we are very sorry”), his trademark arrogance returned when confronted by the only tough questioner, Sen. Jeff Merkley (D-Ore.). Dimon, speaking over Merkley, said the senator was “misinformed” and relying on “factually wrong” analysis.

But this time, Dimon had a more deserving target for his criticism than Democrats and regulations: a demand to “get our fiscal act in order” before the election and before automatic tax increases take effect next year. The Simpson-Bowles plan “is a road map which I like,” he said, and the important thing is “getting something like that done.”

If Dimon is the senators’ best friend, as their fawning suggests, perhaps they’ll take this advice seriously.


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Previously:



06/13/12 Jeb Bush's heresy
06/12/12 Pileup at the White House
06/11/12 Obama's fate could be in Europe's hands
06/04/12 Welcome to Camp Competitive
05/31/12 Digging a racial grave
05/30/12 A new conspiracy theory: Is Romney a unicorn?
05/29/12 Do Republicans really want to clone one for the Gipper?
05/24/12 Obama's protectors are under the microscope
05/22/12 Obama's Old World mess: Allies are coming up short at a key moment
05/16/12 Where have all the candidates gone?
05/15/12 Barack Obama, the first female president
05/14/12 Irrationality wins: Voter cure for Congress's failures will likely backfire
05/08/12 Obama's marriage mess: His advisers scramble to clean up his 'evolution'
05/07/12 Taking out Dick Lugar
05/03/12 Gingrich may have ended campaign, but he will remain out of this world
05/02/12 Our do-almost-nothing Congress
05/01/12 President Obama, campaigner in chief
04/25/12 Romney's immigration Etch a Sketch
04/23/12 A congressional deal on immigration? Dream on
04/19/12 Dems battle back against Republican 'war on women'
04/18/12 Debauchery: An American govermental specialty
04/17/12 Silent witness
04/12/12 Rebuffing Obama's gimmicky 'Buffett Rule'
04/11/12 Santorum's Gettysburg surrender
04/09/12 The facts vs. Mitt Romney
04/06/12 Mitt Romney, talking to the press, keeps the press at a distance
04/05/12 From tracking al-Qaeda to tracking the wayward spouse
04/04/12 Budget cuts as back-door deregulation
03/26/12 My pet Mitt
03/22/12 Mitt Romney's latest gaffe may be etched in history
03/20/12 Supreme Court conceives of life after death
03/15/12 Conservative for Obama: The British PM as campaign prop
03/14/12 In Section 60, a silent search for meaning
03/13/12 Super Friends, unite
03/12/12 It's time to believe: Romney's a winner
03/07/12 Settling in to Washington's ways
03/06/12 AIPAC beats the drums of war
03/05/12 Did Republicans forget the women's vote?
02/29/12 Mitt Romney's acceptance speech, in (mostly) his own words
02/28/12 Common ground becomes a great divide
02/27/12 An expert witness for the GOP gender gap
02/21/12 Where Romney shines
02/15/12 A Republican death wish?
02/14/12Obama's budget games
02/13/12 Are GOPers playing right into Obama's hands?
02/08/12 Obama pumps the compressor of Joe Hudy's Extreme Marshmallow Cannon
02/07/12 Abramoff's atonement
02/01/12 Why we in the media just love Newt
01/31/12 The end of the road for Newt Gingrich?
01/25/12 Gingrich is Obama's best surrogate
01/24/12 Tim Pawlenty, Mitt Romney's attack dog
01/16/12 Mitt Romney's Al Gore problem
01/12/12 Kamikaze Gingrich, on the loose in South Carolina
01/11/12 Journalists' campaign trail secrets revealed
01/10/12 Mitt Romney's money problem
01/09/12 Newtonian exceptionalism
01/05/12 Mitt Romney out of control
01/04/12 Indecision 2012: In Iowa and the GOP
01/03/12 Rick Santorum's curious closing argument
12/28/11 A few cracks in my crystal ball
12/23/11 A few cracks in my crystal ball
12/20/11 Strange brews and views?
12/19/11 Cellphone ban would be a distraction
12/15/11 Harry Reid, Mitch McConnell and the Malfunction Minuet
12/14/11 The presidential auction of 2012
12/12/11 Newt's tactics comes back to haunt him
12/06/11 Can an anthem save Occupy non-movement?
12/05/11 The winner of the GOP campaign: Washington
11/30/11 Barney the bully: Congressman Frank's other legacy
11/23/11 Jon Kyl's search-and-destroy mission
11/21/11 Pay to play, brought to you by Washington
11/17/11 Big enough to save the supercommittee?
11/16/11 Why Newt Gingrich won't last
11/08/11 The 2012 campaign gets seedier
11/06/11 A Machiavellian model for Obama
11/03/11 The Herman Cain crack-up
11/01/11 Cain can --- he will survive
10/27/11 Stuntmen of the supercommittee
10/26/11 Democrats on the sidelines
10/24/11 Rick Perry's birther Parade
10/24/11 The birthers eat their own
10/19/11 The GOP's middle man
10/17/11 The waiting for nothing Congress
10/12/11 Sparsely occupied D.C.: Why the movement hasn't caught on
10/10/11 Can Obama strike an alliance with Occupy Wall Street?
10/06/11 Chris Christie, such a presidential tease
10/05/11 Obama and his foot soldiers go toe to toe
09/28/11 Cain could deliver
09/26/11 Republicans? Mr. Nice Guys?
09/22/11 Why Ron Paul is winning the GOP primary
09/21/11 I am a job creator who creates no jobs
09/20/11 Obama launches a revolution
09/19/11 Dems for Romney?
09/14/11 ‘Supercommittee’? More than stupor committee
09/07/11 Mitt Romney finds his (corporate) voice
09/01/11 The infallible Dick Cheney
08/31/11 This liberal says Perry is the ultimate conservative candidate
08/29/11 Wanted: More bite from Obama the Great Nibbler
08/10/11 How Rep. Austin Scott betrayed his Tea Party roots
08/09/11 The most powerful man on Earth?
08/08/11 The FAA shutdown and the new rules of Washington
08/04/11 Lt. Col. Allen West fires a round at the Tea Party
08/03/11 Government on autopilot
08/02/11 Dems mourn debt deal like death
07/27/11 Life imitates sport
07/26/11 Obama and Boehner take on Washington
07/21/11 Why Americans are angry at Congress
07/20/11 The new party of Reagan
07/18/11 Rob Portman, the boring Midwesterner who could bring sanity to the debt debate
07/13/11 John Boehner's bind
07/04/11 Stephen Colbert, Karl Rove and the mockery of campaign finance
07/01/11 President Puts Up His Dukes, As He Ought To
06/28/11 Rod Blagojevich verdict: All shook up
06/27/11 Progressives voice their anger at Obama
06/24/11 ‘Mission accomplished,’ Obama style
06/22/11 Jon Huntsman's first step toward oblivion
06/21/11 Scott Walker finds making bumper stickers is easier than creating jobs
06/20/11 A day of awkwardness with Mitt Romney
06/06/11 Hubris and humility: Sarah Palin and Robert Gates on tour
06/02/11 The Weiner roast
06/01/11 Congress clocks in to clock out
05/30/11 Hermanator II: No More Mr. Gadfly
05/24/11 How Obama has empowered Netanyahu
05/24/11 Pawlenty bends his truth-telling
05/20/11 Default deniers say it's all a hoax
05/18/11: Gingrich gives voice to moderation
05/17/11: Donald Trump and the House of Horrors
05/16/11: The medical mystery of Mitt Romney
05/12/11: The body impolitic: Schock photos should tempt lawmakers to cover up
05/10/11: Muskets in hand, tea party blasts House Republicans
05/09/11: The GOP debate: America -- and the party -- needs the grown-ups
05/05/11: Mitch Daniels, an alternative to scary
05/03/11: Obama's victory lap
05/02/11: How the journalist prom got out of control
04/28/11: Obama's birther day: Why did he lower himself by appearing in the briefing room?
04/27/11: Obama, lost in thought
04/24/11: Andrew Breitbart and the rifts on the right
04/22/11: Ten Commandments for 2012
04/21/11: Obama likes Facebook. Facebook likes Obama.
04/18/11: Without Nancy Pelosi, Obama is adrift
04/15/11: If progressives ran the world
04/14/11: Faith in political apostasy
04/13/11: One man's revolution is another's political expediency
04/11/11: Shutdown theatrics
04/06/11: Paul Ryan's irresponsible budget
04/05/11: Robots in Congress? Yes, we replicant!
04/04/11: Robert Gibbs, Facebook and the White House corporate placement service
04/01/11: Haley Barbour, the fat cats' candidate
03/31/11: Republican freshmen in House shut down compromise, and possibly the government
03/30/11: Coburn and Durbin, the dynamic duo of the debt crisis
03/28/11: The Obama doctrine: A gray area the size of Libya
03/24/11: Dems as Weiners
03/23/11: Obama's quick trip from tyrant to weakling
03/17/11: Who's afraid of Elizabeth Warren?
03/15/11: The underwear flap over Bradley Manning
03/10/11: In Senate's debt debate, talk isn't cheap
03/09/11: With Obama's new Gitmo policy, Administration officials had some 'splainin to do
03/02/11: Issa press aide scandal is like bad reality TV
02/25/11: Jay Carney: Mouthpiece for an inscrutable White House
02/14/11: The Donald trumps the pols at CPAC
02/09/11: Arianna Huffington's ideological transformation


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