Photo: Wikimedia Commons
Massachusetts Senate hopeful Elizabeth Warren hit the morning show circuit today to call for JPMorgan CEO Jamie Dimon’s resignation from the New York Federal Reserve Board in the wake of his bank’s shocking two-month $2 billion loss.”I’d like to see Jamie Dimon, for example, resign from his position as a Class A director of the New York Federal Reserve Bank,” Warren said during an appearance on CBS’s “This Morning.” “The banks cannot regulate themselves.”
Calling for more accountability and regulations, Warren later told CNN that Dimon has been a key leader in Wall Street’s “guerrilla war” against tightening federal regulations on the financial sector.
“Jamie Dimon has been the one who has led the charge in order to say, ‘Nope, no more regulation, fight back against regulation, call the regulation un-American, try to resist, try to put loopholes into regulation, hire an army of lobbyists,” Warren said in an interview with CNN’s “Starting Point.” “This has really got to stop.”
The JPMorgan loss actually couldn’t have come at a better time for Warren, presenting her with the opportunity to bring the focus back to her consumer advocacy credentials. The Harvard law professor, who is locked in a tight race against Republican Scott Brown, has lost ground in recent weeks as she struggles to shake off stories about whether she used her unconfirmed Native American heritage to bolster her academic career.
Business Insider Emails & Alerts
Site highlights each day to your inbox.